Hello lenders of BP! I need your advice, and please don't sugar coat things. If you don't think I could qualify for a loan under my current circumstances, let me hear it.I want to contact a mortgage broker to get prea...

@James Smith, those areas of Nashua are the worst areas, and therefore the tenant base is more difficult.  I

Good post, I agree with you, i do believe a correction is coming, but with investors now having to put more skin in the game and not being able to drive up prices like they did years ago with no money down products and loose lending requirements, i dont think it will happen this year maybe 2 or 3 years down the road and that also depends on what region you are talking about, we didnt really feel the crash out here and we didnt experience the double digit appreciation either , i wasnt thinking of selling when i refinanced, a few months after i did it, my tenant moved out so that got me to thinking about changing my goals, i was in a 6.15 30year loan still paying pmi, so the fixed 15yr @ 4.375 was a better deal for me, and yes counting on appreciation is not good because its not guaranteed, i may end up keeping it because I like the idea of having it paid for in 15 years.  

Should I contribute some capital to have "skin in the game"?

In this market, I have been able to find some non-distressed properties at about 1% rent/price with out too much difficulty.

The sellers are selling their homes for full market value (no realtor commisions), and enjoying fair market rents from a lease option buyer who's been talking to a mortgage broker from day 1 (and has a little bit of nonrefundable skin in the game).

I'm pre-qualled for a conventional loan with 20% down, so I have some skin in the game.

Most lenders like to see you have some "skin in the game" , so may need a down payment and some closing costs at the very least - however , there are still opportunities to wholesale or bird dog which does not require down payment money but may be a lot more difficult without a marketing budget.

The biggest complaints I hear from people towards management companies is difficulty in reaching the manager and a lack of good reporting.

There's a lot of ways to skin s cat with the virtual stuff.