If all goes well, we should be cash flowing right away. 

The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

@Toby Fellows I feel ya as I am mainly an investor as well but also hold a RE agent license.

At any given time there are countless C/D neighborhood properties in Philadelphia that can be leased to a section 8 voucher recipient that cash flows well. 

Hi Derek,Based out of Surrey, BC and thinking of investing in the states as well.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

If a 2-bedroom unit rents for $1,800/month in these neighborhoods, you’re well-positioned to offset your mortgage.2.

As Jay mentioned they must be NMLS licensed if owner occupant of in several states even commercial needs licensing.The NMLS is like the database, each state has a division of banking that oversees lending requirements then you also on the federal level have CFPB as well as consumer protection laws.I want to add that I believe yesterday the CFPB is undergoing changes, but if it goes away that does not mean that many of the laws in place especially consumer protection laws would go away. 

Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.