I would embrace it with open arms as an opportunity for you to take advantage of.

I am trying to take my interest to the next level by creating an account here on biggerpockets.com, and dedicating my free-time to learning as much as I possibly can about real estate investing.Right now, I am north of Columbus Ohio, just recently separated from the armed forces, lived it and loved it and would do it again in a heart-beat.I did a fair amount of reading my last several months in the service, as well as the short time I have been out of the service.

The best list are the portfolio list from back in the days of stated, no doc, option arm and sub prime loans.

I would have thought they would have explicitly stated that that was the case.From my understanding with cash purchases, seasoning wasn't really a requirement.

If I suspected the seller had received a better offer, I might try to legally strong arm them into paying me off to release them from the contract.

But, I don't accept that arming them with a rule, guideline, or whatever that will yield a range of $9775-$22425 on the same investment is helpful.

@Daniel Dietz Since I didn't answer your question here is a copy of a pro forma my banker uses to calculate DSCR, based on your numbers, I used a typical 5 yr Arm to figure payments, and I also went with your generic 8.25 Operating expenses.If I was looking at this deal, I would pass because its DSCR is too low.

Some local banks only work with locals.You may want to try the lending arm of Econo Homes.

If the criteria states something explicitly, then that's what is done.

Here you will meet wholesalers who will point deals to you and rehabbers.Your market is one of the top emerging markets in the country.To find a good property manager go to IREM.org search for ARM certified they passed a battery of tests to become certified.Good LuckPaul