What cap rate is the selling asking?

I refinanced it into a  5% 30-year mortgage with a local bank as the seller would only carry the loan for a year.

He calls and tells me "the income to mortgage isn't 1:1 and he is going to have to let the lender know."

Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties. 

Now a "Foriegn National Mortgage" has similarities to those mortgage types but you will pay a higher interest rate and be required to have a higher downpayment as well (usually about 35% down). 

As-is cap rate of 7.5% in my market (kc) would be pretty awesome to buy. 

For now, it Looks like your roommate/tenant can cover half of your mortgage (plus hoa fees). 

The market is in a extreme state of flux due to interest rate volatility.

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?

I'm currently working with a lender that has a $50k minimum, and his rates and customer service have been great so far.