If you have a willing seller with a willing buyer doing creative financing, it's the  simplest of transactions.

While I usually think people have the best intentions, as someone working with you for the first time, it is truly hard not to have the thought cross my mind that the pro forma provided by Jennifer Lucero was inflated by Southern Impression Homes simply to make the sale. 

Rental portfolios would be a quicker way in - as you could possibly buy numerous properties in one transaction.  

I am in northern NY ( not upstate- 1 hour south of CAN border) Google say $100-$200/sqft.

HELOCs are specifically helpful in this case so long as you are consistent with paying it back in a timely manner for the next transaction.

15 year fixed mortgages are very underrated a 200bps spread is enticing as well as lower transaction costs.  

Interest only loans allows them to get a goal profit of $500-$600 per month per property.3) Each acquisition would require 20-25% down at an 80-100K purchase price. 4) Closing costs, and the Eric Spofford turn-key transaction fee of 10K would be in addition to the down payment and were not included for the purposes of calculating the cash-on-cash return.

Agreed- with a long term rental you can be very clear and upfront about all the nuances/quirks of the property and what is included because the transaction has far more direct communication.

What type of transaction fees should I be looking to pay and is there a down payment required?

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