First, banks do not prefer W2 income over 1099 income at all.

started the interest rate at 8.5% and wrote in the contract that their interest rate will change anytime my bank loan's changes (every 5 years) and will always remain 2.5 interest points above...for what it's worth...i have another under contract that hopefully will close soon..i'd be interested in hearing about this wally wrap as well bryan...what was that?

While short-term rentals in areas like Kissimmee, Florida, can pay for themselves and offer lifestyle benefits, the ROI typically doesn’t match what I see from my traditional portfolio of long-term rentals in North Texas.That said, short-term rentals can still be a great choice, especially if you're drawn to the area and the opportunity to combine personal use with investment income.

The bank and mortgage company we are using is giving us a hard time about us co-signing due to my separation and new job due to only having been separated a couple weeks now.

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.

Fortunately, I just call the bank and tell the address of the property I am under contract on, and when I want to close. 

What do you mean by "traditional 6-month financing route"?

To me personally as well I found it was more important for what I do to cultivate commerical bankers and those relationships so I could get access to bank rate capital and lots of it !!

Our strongest case is that our bank appraisal says it should be much lower.