Some preliminary numbers are below.Asking price: $149,900Current rent: $1600 with ability to increase to around $2000Tenants pay electric, landlord pays heating oil and water.Taxes: $5300 annuallyI like to keep capex, repairs, and vacancy all at 10% for safety, so with a $1600 rent, they equate to $480 monthlyInsurance I would assume anywhere from $80-120 monthlyI have been looking for a seller financed property because I already used my FHA recently and that is my first property, so conventional lending is a little harder for me to get right now.

Some preliminary numbers are below.Asking price: $149,900Current rent: $1600 with ability to increase to around $2000Tenants pay electric, landlord pays heating oil and water.Taxes: $5300 annuallyI like to keep capex, repairs, and vacancy all at 10% for safety, so with a $1600 rent, they equate to $480 monthlyInsurance I would assume anywhere from $80-120 monthlyI have been looking for a seller financed property because I already used my FHA recently and that is my first property, so conventional lending is a little harder for me to get right now.

If he is using leverage I would wager he will ultimately end up paying UBIT.

Do not expect the same level of service we get until you have done multiple loans.This is items that our mortgage broker has done for us in addition to getting us the loan: volunteered to be the escrow so that we could enter escrow on a weekend, had a contact do preliminary title searches for auction properties at no cost to us, providing us free access to a comp service that provides a property value as well as the comps used in determining that value, provided us contracts for purchases without an RE agents, and providing us free access to a skip tracing like function.  

I did a preliminary search and saw that many people recommended Chicago Title. 

I have had some preliminary conversations with BridgeBank, Fremont Bank and Heritage Bank.   

Other than that try to network with house flippers in your area, you may be able to get a ballpark of what they're spending per sq foot, as long as you understand this will be just a preliminary number to see if the house is worth checking out further. 

Through his network, we have gotten no cost preliminary title checks on properties at auction.  

It also had to be notarized which cost me $15.The second form I filed is a Preliminary Change of Ownership Report form. 

Do i make a preliminary offer?