(Conventional is out since I have less than stellar credit, around 690 due to a job loss in 2010 and getting behind on bills). 

Not a stellar deal, but a real winner that just fell in my lap with virtually no effort required.

If they have made stellar payments, we would finance the final purchase.

@Mike M   and based on your stellar portfolio you have more votes to post than anyone on BP your a rock star !!!!!!!!!!!!!

@Nat Chan Sounds like a stellar PM from my perspective as well.  

I've been lurking around the forums for a few months picking up some stellar advice.

I would plan on the lower end of rent values when calculating your #s.I could do 1% rent to price but it'd have to be in a stellar neighborhood with all new infrastructure (roof, AC, interior, etc) to drive down expected maintenance costs over the 15 years I can finance the property for.Don't get locked in with something that's a marginal performer with no exit strategy that doesn't result in a loss.

If you have a partner it's pretty ripe for argents on how nice to make the house, what to sell it for, how long it's taking, etc.If it were me and I was starting out, Id focus on finding a stellar deal and finding an experienced rehabber to split it with.

I also have about 350k equity in my own personal house but didn't really want to go there for now and would rather use the rental properties themselves.Only thing is credit isn't stellar from some stuff that was years ago but just the same it dinged us some and I believe we're under 700 score right now.Thanks and anyone you could recommend that might be in the Corpus Christi Texas area would be great.thanks, Jerome

I had a stellar tenant request to pay by CC.