To answer your question about making the offer, your max is at 65% X $163.7 ($106,405) LESS your repair costs.

PS: Min loan amount is $50K , max is $1M

It rents for $900/month.  2 months into it we did end up spending $800 to cut a tree down in the back yard.There aren't an endless supply of these sorts of deals but I can pick 1 up every 2-6 months.Not sure if I meantioned this in this thread or in another, but here are some basic equations I use to decide whether or not to buy/what I require from a property before I am interested.At max I pay 60 X monthly rent. 

I do not have the faith of a priest in Christ in the moral compasses of the top private finance professionals of the USA.

For those of you not aware, I was a real estate agent previously in California (also with RE/MAX).I will be working in the Houston area, primarily in the Northwest region, and would welcome the opportunity to help any buy and hold investors and/or sellers of rentals (homes or small multi-families).

I want to maxi mize my tax advantages now ....and those advantages will go on 27.5 years on residential property.

You might find out that your max is (lets' say) $300k and you know your LL won't even accept that.Second, tell your LL you are interested in buying it.

There is an annual gift max of 14 or 16 K but there is also a lifetime max. I

-maximum LTV is 80% -maximum term is 15 years -amortization period is typically equal to the term, but a longer amortization period is available if you are comfortable with a balloon payment (max is 25 year amortization) -Rates are fixed for 5 years at a time (rates are currently ranging between 4.75%-5.50% for most borrowers) -Fees consist of actual costs plus 0.50% of the loan amount Is this a good deal?

@Christy Barton $70,000 is approximately the max I can go all in at this point in time.