I did a quick search but couldn't find this posted in the forums (only on a few blog posts) - looks like HUD is floating a proposal to eliminate seller financing unless you become licensed as a mortgage originator.

Especially if you are on a floating rate!

Your postcard should float the idea, if you've listened to Pace Morby's recent podcast, that you will pay more than wholesalers and investors in the area, but to find out why and how, you need a call back and then you have to have your pitch down.

Fannie typically does YM on SBL and conventional lending, Freddie does YM on SBL and STD DEF on conventional and both typically do a 1 year lock out with a 1% prepay on floating rate debt.

It's the worst idea in short-term rentals ever floated. people doing Arbitrage are getting hosed  now.

Go to local REIA events and gather recommendations from other investors.A reasonable rule of thumb is 1/3rd of the loan amount liquid; this doesn't necessarily mean just cash.You'll need to bring a portion of the funds for the acquisition, the initial capital outlay on the renovation (which you'll need to float throughout the renovation process), and you'll need to be able to service the debt, i.e. make interest payments.

I would provide the funds for closing, down payment, and an operating float, while he would occupy a unit and manage and maintain the property.  

Carpet and floating floors have a 5 year life span.

Overall I felt I was buying something I could not see or taste with a floating price.

It appears that the average on past 12 month sales is floating around 8-9% cap.