Here's what I know based on general Fannie Mae guidelines and the specifics of your situation:PMI on HomeStyle Loans: Typically, PMI (Private Mortgage Insurance) is required on loans where the LTV is above 80%.

Typically the landlord is responsible for things like this. 

(Think of it as you are the "bank" in a typical REO transaction). 

Hi There - We have had several clients make the numbers work here in Chicago typically with either FHA 203k and home style renovation loans.I continue to remind everyone that a single or walk right now will be a double, triple, or even a home run down the road. 

I'm curious if this discrepancy is typical of other regions as well.How accurate is the data on this site?

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The comps are not going to be typical for the area.

It is not too good to be true as your mortgage should typically be around 50% of the rental income.

@Steven DeHart the meet up is typically at Walk Ons and starts at 6:00 pm.

If I could, pick your brain a bit more, how much do you typically set aside for things like CapEx/Vacancy?