I use and outside company to screen and it's typically only $45 for me per person and I ask the applicant to pay the fee.

You could do that for 3-5% down.. live in it for a year to meet typical requirements for use… then move into a new house, and ‘voila’ - you bought your second (multi-family) rental for 3-5% down instead of 20-25%.It is entirely possible though that you will face debt to income issues on your first rental if your lender wants to see a year or twos worth of rental history before counting your rental income to offset your debt payments…so beware of that.Otherwise you may have to look at creative financing… maybe bringing in a money person where it was a short term investment for them, like “I’ll give you 8% on your money (versus the 4-5,% you could earn from the bank CD) if you will partner with me on this purchase.”

Based on our conversation, I think he could put down 45-55% of the PP

Ultimately, I would love to end up with a community of 20-45 microhomes, with a retail price of around $150,000 each.

Twice. lnterest isnt locked in and interest went up and he now mentions constuction paperwork with totals has to be reviewed and takes 30 to 45 days plus expect a back and forth. lm suppose to close soon. 

And they are located beside multi-million development which will bring up the value in 4-5 years, if the market remains the same.I have clients who are selling because they have some equity but are cash flow neutral/negative and fear some assessment.

Employment/Economic Diversity/Demand DriversNow if you can buy a house let's say 4-5 bedroom and have your kid live in one for 4-5 years and is the kind of kid who is responsible and a hard worker and a good networker and can keep the bedrooms rented for the next 4-5 years, there certainly could be an opportunity there.

It's like $900 for them to do all the research and give you a decision within 45 days..

The New Western agent provided an existing 45-day old survey in the first communication about the property.

The right answer to this is they should lock your rate for 30 to 45 days and do so immediately upon your credit being pulled and the application submitted. 2.