Bill Gulley I'm not really involved in this deal outside putting people together and informing my friend on what she might be able to do with her property.The investor we have in mind isn't local to Miami so we've located a property manager in hopes of enabling the ability to put a tenant in the property as soon as possible.Any suggestions on the % of interest earned on the investment?

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You went to a lot of time trouble and expense to acquire it, and it enables you to do many things that you could not otherwise.

These events could have a big name musician or artist attend to draw interest.

I have a call into the city planning office to find out what will be required to bring the property into compliance.I think finishing out the Basement to add 2 bedrooms and a bath and redoing the main to open up the kitchen and put in a master suite would enable me to get an easy $1000-1200/mo rent for that unit, the upstairs goes for $800-850 in this market.

Its seriously helped in keeping units occupied and enables us to pick the best tenants.As for the meeting that sounds like it should be good.

I add the caveat that we had purchased 14 properties prior to these, all of which we had seen, and I had criteria that enabled me to buy without total panic.We would put extra income (from a tax return or a deployment, COLA, etc) into a mutual fund and let it grow until we had enough for a down payment.

Enables lenders to exceed QM points and fees cap if the overage is refunded quickly------------------------------------------------------------------------------------------------For the interested in seller financing,CFPBhttp://en.wikipedia.org/wiki/CFPBDodd Frankhttp://en.wikipedia.org/wiki/Dodd_FrankSAFE Acthttp://en.wikipedia.org/wiki/Secure_and_Fair_Enforcement_for_Mortgage_Licensing_Act_of_2008#Secure_and_Fair_Enforcement_for_Mortgage_Licensing_Act_of_2008TILA - Reg Zhttp://en.wikipedia.org/wiki/Truth_in_Lending_ActTILA RESPAhttp://www.consumerfinance.gov/regulatory-implementation/tila-respa/

Without trying, there's no way to make a determination - it's the experience that will enable you to get the knowledge firsthand.Hope that helps, good luck!

This will enable me to scale in a strategic way using my own funds and OPM!