If you have good work ethic and prove what you're made of.. usually it will change.

A quick scan of a couple sites suggests they slow down in the cold, but treatment is up to you...

Also, I think a strong trait to look for is ethical practices and philosophy.

I have been impressed by the apparent ethical dealings most of the members seem to have.

I think your Mortgage Broker got his training in 2005 and hasn't kept up with his required ethics training since.He is suggesting that the underwriter won't notice and approve the loan and he is probably correct.

The real estate itself is still considered to be real estate for 1031 Exchange treatment purposes.

Sell them and spend probably a grand for the requirements to do it right or break the law, dealing as some scum bag, or rent it and make more ethically. :)

I have requirements as well, must have a decent job or ability to at least have some skin and costs, must begin with the basics of RE, not guru strategies, demonstrate the ability to grasp conceptual ideas as well as technical matters and lastly, must have an ethical attitude.

This is another one of those "touchy" subjects, born out of the Realtors Code of Ethics.

I'd say a deal like this should have 10% of the sale price as the down payment and the front-end loaded note can be made so that is attained and then fall into the remaining amortized period.Sell the property for what it's worth, 8% is sufficient consideration, use the amortized period to provide you wanted monthly income, you could require a higher payment to principal to increase the down payment over time as long as they can really afford it, and affording should be determined by debt-income ratios not by an opinion, especially with any inclination of getting in their pocket from any personal issue.Good luck on your getting your RE license, as you go through that process you'll see the ethical aspects of dealing in RE and what I've said here will become clearer. :)