There is an option for a gateway system that can upload data from up to 32 units to the internet for about $1000 with a 50/year data fee.

I just learned that gateway mortgage can do it also but need to know more about them.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule: The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 25% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon Gateway Mortgage Group’s receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information: Signed Draw Request by borrower and contractorSigned All Bills Paid Affidavitreview and approve the draw request and will release funds for disbursementA check will be issued in the name of the borrower and contractor and delivered to borrower via USPSAn inspection of work to date will be performed at 50% completeFinal Draw Information: Signed Draw RequestFinal inspection/Completion Certificate will be required for release of final fundsA Title Update showing property free from lien or encumbranceGeneral Contractor’s Lien Waiver AffidavitAffidavit of Completion, will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns: Changes to the initial plan are not permitted unless prior approval by lender.

He is very knowledgable.Andrew Postell, w/Gateway Mortgage Group from above.

It says its currently renting @ $450, below rentometer.com median.780sf, $35k asking price, 2BR, 1BA.Is this the gateway to becoming a slumlord?

I actually used a lender from Gateway in another state on a different property because of a post from you on BP.

I'm looking primarily at the non-gateway markets (Southeast, Midwest, Southwest).Below I've modeled a representative investment based on several rules of thumb, including:income 1% of purchase price3% vacancyexpenses 50% gross incomeincome, expenses and property value increase at 3%/yearEstimate:Purchase price: $150,000Income: $1500/moExpenses (including professional mgmt): $750/moCapex/reserves: $45/moDebt service: $644/mo (80% LTV, 5% interest rate, 30 yr)Cap rate: 5.6%Year 1, 5, 7 CoC return: 1.30%, 4.40%, 6.09%Year 1, 5, 7 IRR: -26%, 11%, 12%Year 1, 5, 7 Equity Multiple: 0.71, 1.39, 1.70Year 1, 5, 7 DSCR: 1.13, 1.27, 1.35I'm intentionally using an optimistic estimation to give this option the best chance at competing with option #3.2.

Im debating whether to buy a high equity absentee owner list from list source,or a tax delinquent list from Rebo gateway.

Pools are permitted.d.Maximum $75,000 in repairs or 50% of the after repair value, whichever is lowerContractor Approval Contractor must be accepted by Gateway Construction/Renovation Department prior to final approval and be responsible for the entire project.

If, for example, the building was a stabilized performing asset with a reasonable DCR in a gateway market?