He probably has no recourse against the GC.Scenario 2This will get complicated, but I’ll try to break it down as best I can. In

I’m currently working on paying off debts (i.e Car loan) this year, but I’m taking this time to educate myself all I can in this business and network to actually purchase my first property next year!

@Patrick VolumI think you should find out what criteria lenders use to give mortgage loans before you quit your W-2.In my experience it is very difficult to get a mortgage without a W-2 and the factor that affects interest rates the most are credit score.So unless you have a portfolio that you can put up as collateral for a loan without a W-2 or a fat bank account.

Yes, you can. In

Most non-real estate investors think that the rest of us are fat cats with tons of dough and that we deserve to get taken down a peg.

So what you're saying is kind of the opposite of what Erik is saying, which is you CAN in fact use CAP rate as a high level indicator for a deal even if it's a small(ish) multifamily like a 12 unit?

If you're interested to check out the Columbus Market that's on fire, give me a shout would love to connect and help you out if I can in any way.

@Shiloh Lundahl awesome man thanks for giving me hope this can in fact work.  

I am likely the most flexible buyer they will get & know I need to get everything I possibly can in writing from all parties.I would take solace on hopefully helping a family stay longer in the home they are having to let go, still end up with a property that I would enjoy living in, with a whole years worth of appreciated value in an awesome appreciation area already under my belt, and ultimately a property that gives me a great exit strategy as well as long term investment potential.

My goal now is to network and talk to as many people as I can in the industry!