(he's getting a construction/Reno loan @9% int. I

The down payment is 15% at a 4.75% int. I

The other part is in tying up the property then assigning the deal to a Investor for a cash (finder fee).

If interested here are the numbers on my deal: 2 bed 1 bath newly renovated condo on the water, purchased for $20k (15k financed at 4% int.) I

Towel rods, TP holder, ceiling fans, inti-tip device for stove, straighten 2 door frames, a couple of door knobs replaced, etc...

But since my DTI is now 2% i can try and get a cashflow property in NJ or Yonkers area and get a bigger return than the int I pay on the loan.

After we were done it sat on the market for a while so we rented it out to a family that is supposed to be purchasing it in the coming weeks now that they have lived in ti for a little over a year.

Also, given the current climate you can have whatever you want written inti the lease but when December or January rolls around, if that tenant decides they aren't moving then who knows how long it will take before you can evict them.

. $150/mo in TI.

If nothing else, you get a little "justice" in tying up the buyer's EMD for a much longer time period while you run it through the process.I am also not sure who would actually get the EMD if you successfully win a judgement, you or the seller?