Thanks for the explanation Matt, I do use the same calculation but I call it $10 per thousand, the 1% rules sounds much better.

Hi Matt,I would talk to a CPA about this as from what it seems like: if your Dad isn't on the deed or the loan than he will not receive the tax benefits either.

Has anyone flipped an MLS deal (in Sacramento or elsewhere) like Matt is inquiring about?

Hi Matt,I live in CA so I don't know the local NJ and/or municipality laws so you'll need to do some research on your own.How much was the rent each month?

One thing you haven't mentioned Matt is the money you are looking to invest.

Matt, I looked up the property and the owner is a company listing as a resale, would this mean that the company is possibly handling the rehab or owns the property to do the same as myself.

Hi everyone, my name is Matt. I

Matt: I totally agree.

@Josh Farrer is correct Matt is awesome if looking for a traditional lender that understands investors.

If you are wondering, my loans average less than .1 percent 5-day delinquency - always have.In reality, for the most part, I agree with your thoughts Matt. I