So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Two days ago it was an investor who created an additional LLC independent of the deed holder entity believing tenants could only sue the LLC where a contractual relationship existed. 

Sources for insurance and property taxes: Insurance—ValuePenguin, State Property Tax Rates—Rocket Mortgage.

lol Because an investor is not your 30 year mortgage kind of offer.

It was a great investment as he put $10K down on a $25K investment in 1963, paid off the $15K mortgage in 1980, retired, and live off the rental incomes.

Thanks,A lot of lenders (mortgage brokers) utilize figure https://www.figure.com/home-equity-line/ if it helps you at all. 

When someone can’t pay their home mortgage payments it is not likely fraud, just a job loss or business loses.  

I'm underwater with my mortgages and credit cards and bills.

This assumes there are no third parties who took an interest between the original deed and the new deed (think mortgage lender). 

It's a great way to get your foot in the door in your local market and offset your mortgage while building equity.