I was told the reserves are a requirement of the REIT loan that we have.

@Sung Yu You can 1031 exchange your fourplex into a single-family home, provided it’s initially used as an investment property (rented for 1–2 years) to meet IRS requirements.

I spoke with State Farm, but they require plumbing and electrical panel upgrades just to consider reviewing my application.

“Broker” is a legal term that often requires standardized coursework and a state license. 

When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

This route requires more attention as you will need to ensure that you are finding good deals wether they are on the market or off market.

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

I have noticed quite a few posters lately that are requesting help, opinions, prices and information on their properties where a good answer would require either the square footage, the location or both....and they provide neither.

We have one other mobile home park and this property will determine my desire to buy more or sell.

@Michael PlaksI’m not sure if you’re just trying to be controversial, but it’s clear everyone agrees this requires careful planning with a qualified professional.