Great credit.

@Robin Simon I completed a refinance with my credit union at terms of 3/30/75 @6.85% I will have the renwal in 2026 and hoping rates come down a little by then.

I prefer to have the least amount of banks as possible.Create a bank account that you already have a relationship with(Credit card or mortgage)The least amount of bank accounts is also ideal.

A couple of Roof claims due to storm damage in Tucson, and we had several sub-to deals in Oklahoma when grapefruit size hail decimated a big section of the whole town. 

Or are you actually talking to a bank about buying the note so you can see the notes and credit on the owner of the property?

Where we can see a huge opportunity is in the flood damaged properties that are selling at fractions of the retail prices.

I would stay away from section 8, pull credit and background, and call referrals, and look at pay stubs for everyone who applies.

@Tristan Kelly tenant performance and damage is what you want to watch, along with squatters & theft of mechanicals.Update us in 6 months:)

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

(May also cut significantly into the current cash flow on it)I know you mentioned not doing a HELOC on my primary, but wouldn't it be advantageous to have the ability to pay off the line of credit instead of be stuck in a payment that is much higher?