@Kevin RodriguezYou could also increase the rate a little, do lender paid MI so it doesn't show up as a separate  component of your monthly payment and then get a better deduction on your income taxes.Stephanie

I would like to do a little bit of internal analysis to help this group out a bit.We can categorize this discussion into two different groups:1) The Experienced InvestorsThose of us who are in this group have a lot to offer.

They're the ones that tip the balance in the landlord's internal calculation of, "Is this life really worth it?"

Tax write off is one component of investing but it is NOT the only reason you buy a property.

If the offer is accepted I schedule a professional inspection to verify the condition and life expectancy  of all major components and appliances.  

A bridge loan is a loan that includes a rehab component in it.

I do not know the proper channels to follow and move forward and would love to intern with someone in the NJ area.

to give me an initial idea of what we're dealing with.I have a hunch that the damage will be more than the FMV of the house...I have to believe this is $50k+ worth of damage by the time you factor smoke and water damage, plus electrical and structural components.

I now am in the management consulting field and I am primarily working with banks on ensuring their compliance with lending regulations and internal controls.

Check BNI international or a LeTip (professional networking associations) had great experience with some BNI folks before.