Utilizing their favorable financing relationships to then secure a ~$1M loan from a local credit union.

• Purchased directly from a mom-and-pop operator off-market• Secured $1M credit union loan and raised $500K equity to close• Existing owner had inflated expenses and below market rents• In-place rents approximately 30% under market at purchase• Expense ratio at least 10% above the norm How did you find this deal and how did you negotiate it?

My parents put up most of the money for the down payment and they're crediting 10% of the rents as equity to me each month as payment for managing the property until we reach an equal equity position. 

Hi JorgeThank you for this tip!

I would like to find a lender who can approve me based on the property and what it will bring in monthly as a rental rather than on my personal finance and credit. 

The question is finding the deal, any tips?

Hey all - first off, thanks to everyone for all of the valuable information and tips!

Be careful calling multiple lenders because loan officers are trained to get you into an application and pull credit.

By then they run the credit and there is a hard pull on the credit report making my fico score drop and then them saying "sorry" the next day.

I'd buckle down and apply every saved dollar to the lowest balance business credit card, then the next until all 3 are gone.