You’ll put 5% down but get 2% back on sale (which might pay for your closing costs) and then do a rent by the room to cover your expenses and downpayment for next year) Not sure which university you are at but both Henrietta and South Wedge are solid places to start (serving RIT and UR respectively) Good luck, I personally think Rochester is a great area to start due to constrained supply with a growing population

Despite the guru fed “misinformation” about all these under market price deals, they are actually very rare and require (1) the investor recognizing value that the seller and the rest of the market misses or (2) a seller with a need for an immediate sale and a buyer with the CASH immediately available to conclude a very quick closing usually forgoing inspections, financing, and other contingencies. 

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

They have close family in the area they invest, perhaps even living in the investment property itself like their child who is a college student and rents other rooms in the house to friends, or their sibling or parent.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!).

The whole point of a cash offer is speed and certainty - if you can bring a pile of money to the closing table today, I dont have to worry about you not getting the money to close. 

Each of your sales will need to have overlapping time frames (45 days to identify and 180 to close).

They're also happy to commit to whatever your closing date is and blow right through it.

When my loan was not going to close, it was one of the options that my broker and lender told me about and actually referred me to for a conversation.

Distributions don’t start until 6 months after the last property of the fund is closed on.