Hello,I have recently gotten a seller to sign an agreement to a subject-to deal. The loan amount is $220000, and the estimated Zillow price for the home is $600k. However, the home is in quite poor condition and disre...

I am curious if there’s anybody out there who has experienced this scenario, and would love to know if anyone has any advice,tips or tricks to get this ball rolling.Thanks in advance!

This typically means the local governments have not even discussed the topic of STRs, which may not be the best scenario for you as the investor or buyer.

The most common properties have lot sizes from 300sqmt to 600sqmt  while duplex has less. 

What this narrow group of investors have in common though is they know the market well because they lived there for a couple years.

And this scenario is for property in California if that makes any difference.Thanks and i appreciate the all the helpful information from this forum.

Also, I would also not cross-collateralize the houses if a lender would even do a portfolio loan.On your second question about multifamily, I would not jump to multifamily until you have experienced the common management problems with single-family as the expenses scale with the size of the property as well as the cost of mistakes.I would consider getting Home Equity Lines of Credit (HELOC) on each property.

It's also much less common in the commercial real estate world for sellers to fix things prior to close of escrow. 3) Of the remaining 5 out of 1000, 4 out of 1000 is a hyper conservative estimate for fallout from people getting fired while in escrow, taking out car loans, that sort of stuff.So, yeah, 1 in 1000.

The rehab budget cannot exceed the purchase price.For a lower-value Detroit Purchase + a 50% rehab budget, say $50k purchase + $25k rehab, the following type of loan scenario would be a possibility:

Notably it is common for investors with sufficient equity for a $250-500k HELOC to have low or no first lien balances on the subject property.Furthermore on the target purchase, investors could theoretically have more buyer leverage as a 'cash' transaction and eliminate associated mortgage closing costs and have more investment options as a 'cash buyer.'