While she has been respectful and kept the home well-maintained, the late payments are a significant red flag, especially since it’s become a pattern over the course of the lease.You’ve found a potential new tenant with the financial stability to meet your needs, and I suggest you proceed with the screening process and hope the timelines work out for their desired move-in date.

It will work out. 

Don as it relates to SFR mortgages I think someone like Chris is going to get more bites at the apple.. those chasing NOD's I think will find that many of the folks will not transact as they will be able to do workouts with the lender.. so even though you may have 1 mil NODS being filed I suspect maybe 10% to 20% of those will filter down to the one off investor thinking they are going to score a sub to deal.. and probably much less than the numbers I stated. 

Tried the sales thing a long time ago but it didn't work out for me.Regardless I've still pursued investing and small business ownership over the years and have owned multiple properties throughout my life.

If Union City’s numbers don’t work, out-of-state rentals in more affordable markets might offer better cash flow.Good luck!

However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out. 

On top of that, if the HOA has no reserves, you might be looking at some unexpected fees down the road, and the previous buyer’s financing falling through might hint at deeper issues with the property.The idea of buying the place, renting it out, and then moving in later could work, but you should ask yourself: do you feel confident managing a rental property from a distance, especially with your current income situation?

This quote is from Better Mortgage, but I'm wondering if anyone has suggestions for other lenders who might offer better rates.I did explore a construction loan, but unfortunately, it didn't work out because the lenders said this is my first time constructing, and they were hesitant to move forward.Once everything is said and done, the total cost of the property will be $210K.

If 4 plex doesn't work out then my only option is to purchase another SFH or 8 unit apartment?

So, I think you have a risk factor in upstate New York that you don't get in most other areas (it's not where most people would choose to live).I think upstate New York one of the few areas in the country you can cash flow in B areas with 80% downpayment, so that's nice--in terms of deals, I think the numbers still work out at market prices.Finally, the property taxes are very high in upstate New York.