Land has gotten expensive in Charlotte but the new UDO has allowed for expanded density on infill lots.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

We would need to know your current operating expenses (and rent) to be able to provide any suggestions.

You need sufficient NET (after all expenses) self-employment income from something like contract (1099) work, being a Realtor, wholesaling and so on.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

What I love the most is two fold, the interest paid back on the loan goes back to you, the fees to do this are extremely minimal. 

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes. 3) On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each.

With a property that is paid off, the cash flow should be there.  

They should also be able to get paid in certain scenarios other that selling and/or they can charge an up front retainer fee to charge you for the paperwork if that is all they do.