Great tenant that always pays on time - been there for 5 years Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Typically who pays the for the utilities?

He had to reset the main breaker that turned off dryer, so it was a quick fix, but said it could prevent messing up appliance and having to pay more.

If you have no money for down payment do you have teh $2000+ per month to pay the first (then still have to pay the 2nd?)

Hi Arshiya,Typically a Hard Money Lender will look at your:Down Payment (assets/liquidity to put into down payment) - 20-30% for first time investorsProperty value and After Repair ValueRehab Plan and Timeline - detailed rehab plan with realistic timeline and budgetExperience - not necessary but helpsFinancial Strength - credit score, track recordsExit Strategy - how you plan to pay the loan off

There are a lot of groups out there that basically want you to pay them to find the mentor deals, so he can take a slice of your deals. 

If any need for boots on the ground ever exists for you, I would be happy to assist or brainstorm.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

I recommend you start with duplexes as you should always have a paying tenant.

We pay Lightning Docs a $500 annual fee and $500 per loan, which we charge to our borrowers at closing.