After much reading and research, I choose this type of investment for several reasons, not the least of which being it is what I can best afford; vacancies shouldn't be a big problem since its a high rental area; its a low income area, so if I find a sound building, I won't need to spend a lot on improvements to attract tenants (since the tenants wouldn't be able to afford to pay for those rental extras anyway).I'm doing the deal with "no money down-ish" by tapping the equity in my personal residence (HELOC, rate is prime, no margin, 15 year term) for the down payment, and financing the rest at 90% with a conventional 30 yr, 7.75%.

Many conventional and all FHA loans will have seasoning requirements on how long you have to own the property to sell it.

There is also some minor cost involved and (depending on the state) some paperwork that needs to be done.Naming conventions are dictated by the state.

The banks don't seem to have enough REO inventory to start doing deals.

If anyone is interested please have a look at http://www.assistedescape.comMain reason for this site was because when I was looking for property a while back, I wanted to find something where I would not have to come up with a large down payment . . . well I found a few websites here and there but nothing that dealt specifically with Owner financed vacation property . . . the site is still low on inventory, but with the word out and people searching, I'm sure that won't be a problem=)Enjoy,Davehttp://www.assistedescape.com

Many conventional loans will either not allow you to put a property under an LLC or will charge you points on your interest rate to do it.Your Return On Investment (ROI) or more accurately your Cash on Cash Return (CCR) is factored by first figuring your cash flow on the property.

Do I have to pick property from your inventory?

If they knew the inventory better it would be different but think of all the people who have to ride by just to recognize the house as one that didn't sell the last two times they tried.The most respected agent in my city does a 1% drop until property sells but he will not overprice a house just to please a seller.

Get a conventional rehab loan: Unlike hard money rehab money, conventional will allow for up to 80 ARV (you could finance more of your closing costs using this program).

They will need to offer conventional and HML as well.Thanks.