Not in my opinion, you should be fine unless it is a neighborhood with first time homeowners trying to get in.Also Airbnb--Is your town a year-round destination?

Selling to me he had a guaranteed sale.So, the numbers look like this: (round numbers)$180,000 I bought for “Subject To” (I took over the underlying mortgage)$15,000 I gave him cash so he could move onThe rest of his equity to be held as a note.

They are not, do not waste a second of your time trying to make a square peg fit a round hole, that is insane behaviour.

Within that hour or hr and a half I get him to check the foundation, the roof, the electrical and a few other big ticket items.

To go forward, or scale your portfolio: My usual lender calls the conventional mortgages “golden tickets” and there are only 10 of them, per Fannie and Freddie (the government agencies that guarantee the loans). 

You won this round :)

welcome round 2!

Mainly because I was looking for "year round travel" AND friendly regulation.

I'm not sure you are doing as bad as you think...And keep in touch with the second one especially, maybe even do a thorough walk through, etc so that when no one else bites and they get more ancy, you have more information than anyone else.Be nice, walk away, then have a bunch of those properties on your "second round" and I suspect you would have a decent hit percentage.my partner and I have bought a couple this way...especially good idea in somewhat illiquid areas...Jon

Do I round up or round down for the number of unit I can build?