I still have clients but much more selective who I work with these days.Anything good NNN for dirt and tenant in strong suburban area about 2.5 million and up in price with at least 35% down.

(If they are an adult you should have already done a background check on them.) you could also renew them at the higher rate on a MTM term in case the payment issues continue.

You should definitely be able to find decent multifamily properties for under $200k, and multifamily would be my suggestion for starting out if you can swing a larger down payment (depending on loan type, you MAY need 10% more for a multifamily vs a single family, but not always).

I don’t believe a tenant can stay forever, and I can cover the extra payments and lawyer fees for up to two years for the tenant who will be harder to remove.

they probably have a bunch of 3% nonconforming loans on their balance sheet so 5.5% is not bad, totally reliable payments, plus in a legal battle they'd likely find the power of attorney didn't extend to the ridiculous term and that there was no breach of any enforceable agreement.   

He already has a down payment saved up just needs a little bit of help getting the first deal to the finish line.

Similar issues happen with VRBO and Airbnb electronic payments:(

Account ClosedEven with high interest rates, lots of folks investing or buying homes do well with FHA loans because of small down payments and good loan terms.

Aim for a 620+ credit score, save for a down payment, and research markets with strong rental demand.

Hi @Rene Hosman -In a nutshell, I find motivated sellers and tenants with damaged credit (or ones without a large enough down payment) and work to put the tenants in the seller's house with an option to buy.