@James Riley Cook Your best bet is to talk to a mortgage broker instead of a bank.

@James C.

@James Caruso much appreciated!

@Tim Hertz Congrats on your Duplex, that seems to be the common theme for Newbies.Your are correct, minimize risk by purchasing right and for me keeping emotions out of itThank you Tim.I have another offer I just put in on SFR, this one requires no rehab, essential a turnkey (not by real estate definition) I offered CASH (they say cash is king)Crossing my fingers Take care Brother 

@James D Kidd, is your mother-in-law still living in the property?

If you are really going to settle on this property - you could ask the owner to give them a 60 day notice of rent increase - send this notice effect September 1st, (don't miss this mailing) raise the rent to the number you want - if the tenant agrees to accept the rent increase - great - if not - you would be in a position to eviction them based on the non-payment of the increase or they will just move - you may want to say in that increase rent notice that there are plans to improve their living conditions, supply new appliances and whatever you plan to do.Do this will help get what you want without vacancies and still have a tenant who will be happy to comply to the increase.Cash flow is King - don't kill the King.Charles

@James Wachob has one

@James Wise You're right, and I'm right too.

Fo rehab flips, cash is king when making offers and in this tough market, your offer must be as strong as possible when shopping the MLS.

@James Carlson thanks for the clarification about the Airbnb coverage.