I actually just had to walk from a five unit in Lyons because one of the structures was non conforming, and the town was requiring it be torn down! 

10/7/2019Aaron – thanks for the post….the price range and location sound realistic …good to se that you down payment is ample to avoid the mortgage insurance need and to keep the loan in conforming range ….I would think you could get a bit more than 1K per room depending on the location/ type of property / room size etc … even if the purchase pencils out slightly worse than the renting scenario , its worse considering as a step towards getting a property under your belt …ideas 1) buying a 2 or 3 plex at a higher price point but this would allow higher rental income 2) buy the property as a total investment property and rent for a larger amount per month …your down payment would allow this wo work ..thanks

You can give the property profile to any realtor, and they can find conforming properties.Carlos, if you buy a property that matches the property profile for a tenant segment, the majority of the people who apply will come from the segment you are targeting.However, not all the people in a segment will be reliable.

. $500/mo rents as an example will not conform to any rules (50%, 1%, 2%, etc.) and be nearly impossible to make money without deep local knowledge and resources.The good thing about Dayton, there is so much opportunity.

I think it depends on the area, how the house conforms to the area, and what the people are accustomed to.I've lived all over the country and the two hilliest places were San Francisco and Pittsburgh.

Sure, she could go commercial or portfolio, however, terms are generally not as sweet as conventional, conforming loans.

If you are buying in your home state you are going to get your best deal from a conforming Fannie/Freddie bank or mtg company but 21-30 days is as fast as that will ever happen.  

However, I am against having to conform to the large batch of rules for the program, from inspections to disclosure.

My understanding is that they keep the loan in house so don't need to conform to fed requirements (my terminology may be inaccurate here).

@Tony DavisThat's usually pretty tough since you can't get a conforming loan within 6 months of a Title transfer.