I currently have a 30-yr fixed rate mortgage on a single family home that is my primary residence.

I wasn’t notified about this change until I saw it myself.When I asked why, they said the home inspection found some issues that were fixed and re-inspected, but I’m confused why this would result in a rate increase.

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

Investment Info:Single-family residence fix & flip investment.

I actually had to make calls to fix the heat and broken doors and connected with the tenants 1 on 1.

I love the idea of fix & flip right now @Abigail King, especially right now here in Chicago and I am sure it is similar for you in central Illinois -- it's winter so there are way less buyers and if you can get under contract soon you can likely rehab over the winter months and hit the spring market!   

Percentage is a rule of thumb, so whether you get a 100 a month or 1000 a month, your maintenance is going to average around a fixed number not a percentage of your rent.

I fix n flip and I always add the cost of paying an agent in my budget.  

If you do, figure how many of these things you’d really fix, what that would cost, and how much of that you’re willing to cover.

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