Hi @Roy SchauerWe have not discussed rent credit per se (I'd not even thought about it).That is probably the right word for what I was thinking - taking over his mortgage at its current balance (or a new mortgage for the same amount).Yes, the owner is pretty ready to get out from under it, especially after we moved back in and I blew up his phone the first week with gripes about plumbing leaks, but he is not what I would call a "hugely motivated seller" and has very poor financial skills, and so is pretty attached to his price.

Hello all, I just passed the RE salesperson exam in Michigan and now I am looking for a Brokerage to hang my licence. Does anyone have any recommendations? What should i look for as a newbie. Do some companies offer p...

I'm currently originating a loan for a S/E individual who's using bank statements to qualify.  

Yes, STR in SE Idaho have been doing very well.

We owe $250k on it, and it's recently appraised at $500k with the new ADU and the increase in value over the last two years (its inner SE, if you're familiar with Portland). 

ARV $200,000 70% LTV $140,000 Purchase Price $ 85,000 Rehab Cost $ 70,000 Purchase+Rehab $155,000 Down Payment $ 15,000 Monthly Pymt @ 12% $ 1,550 Total Finance Charges 6 months $ 9,300 Loan Points @ 3% $ 4,200 Realtor Selling fees 5% $ 10,000 Misc carry, selling, closing cost $ 6,000 Sales Price $200,000 Total Cost $184,500 Pre Tax Profit $ 15,500 Cap gain + SE Tax 30% $ 4,650 Net $ 10,850 Net / Total Cost 5.88%

IF you don't provide substantial service, you would still fill out Sch E and not pay SE taxes.

Couple additional thoughts on why I like it and will continue to invest in it.https://www.biggerpockets.com/blogs/9145/70861-top...https://www.biggerpockets.com/blogs/9145/54155-sel...I'm playing it a couple ways through single asset plays in markets I really like (i.e Atlanta / SE) and in investment pools that own several across the country in high growth markets for more instant diversification. 

I moved there from SE Florida in the mid 90s.

I live in SE PA.