Again, the rule is: Within one year, the appraised value or cost of acquisition (plus costs of improvement), WHICH EVER IS LESS.Refinancing an investment property is alot harder than an owner occupied, getting cash out will be like pulling hens' teeth, IMO.

What you mentioned will work.Equity is the difference between the "value" of the property and what you owe on it.nder Generally Accepted Accounting Principals (GAAP) as well as what lenders will look at, the value of the property will be, in the first year of ownership, the purchase price or it's appraised vaule, WHICH EVER IS LESS!

Here is a list of some options you can take advantage of.California Homebuyer's Downpayment Assistance Program (CHDAP). which is designed to provide a deferred payment, simple interest rate junior loan of an amount up to three percent(3%) of the sales price or appraised value, whichever is less.

I'll tell you if 2010 was a true bottom in about 5 years.But, like you, we're planning to buy over the next several years anyways, so whichever way prices go, we should still profit.

At a minimum, I would like to have at least 6 months worth of rental income or mortgage payment, whichever is higher. 5) At this point I am not interested in setting up an LLC.

labor warranty lasts till last roofer crawls down off it OR it rains,,whichever comes first.Next door neighbor is excellent case in point how NOT to get your roof done.

Go to a broker and you're buying a service - and you'll pay 1pt for that privilege.If you want to buy just the commodity itself (the loan), go with whichever direct lender has the most efficient infrastructure.  

Regarding screening, you can use whichever tool you use for other properties. 

If they give you the down payment and/or rehab cost, you can offer second lien on the property (you will set up a notes payable with them) and you would agree to pay them back plus the agreed upon interest when sold or a year after the property is purchase, which ever is the least amount of time.

I heard someone say once that you should have 6 months of "cash flow", I define that as cash in or cash out which ever is greater, hopefully that's your gross rent.