Utilizing my relationship with a great local lender I started the process of getting a secured line of credit set up against the 3 unit so I could pull most of my money back out.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

Even large and small businesses with intangible residual services like TV, internet, security, pest control or the local contractor with remodels in process could fall behind on payments revenue contract. 

Hello fellow investor,Thank you for your interest in learning more about our company and how we secure funding for our clients.

It's impressive that you secured a deal like this with no renovations and turned it around the same day.

For my units, I usually look for someone with annual income 40x the monthly rent so I know they are financially secure. 

If you can save up 20% down in a low-cost market like Cleveland, you could use a DSCR loan to secure financing while you still don't have any stable income. 

So I picked up a few books which includes, "The Book on Investing In Real Estate With No (and Low) Money Down," and "The Book on Rental Property Investing," both by Brandon Turner, which introduced me to the BiggerPockets community.With a decade of experience in property management under my belt, along with my property management certifications and an NC real estate broker’s license (with Broker-In-Charge designation), I’m eager to leverage my background to secure long-term financial stability for my family.

One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.