Yes the debt service and points would eat up any profit.Owner finance is great FOR THE RIGHT TERMS AND PRICE.You can pay a little more but you do not overextend yourself or buy into a marginal or bad deal just because of the owner finance.This is why a money partner might work out well for you.Chris tenant liveablility and what works best sometime varies by area.Here if they are single on a one unit and get a girlfriend/boyfriend then they have kids etc. then they want to move.I like a few 1 beds in apartments but prefer 2 beds.

Michael,I always try to get a number from them first but that doesn't always work out.

Indeed, if we cannot work out a deal directly with the borrower, we will motion for a reciever based on the ALR provision and proceed with the foreclosure.

I manage my rentals and, when there is not a maintenance request or other specific reason to visit a property, I just do some drive by inspections and an occasional interior inspection of the property, in that respect it would be more management intensive to have a couple SFHs in different locations than a single MF building.

Though this is a FREE marketing method, it can be labor intensive...Does outsourcing spring to mind?

I worked with Loss Mitigation Services and Workout helping resolve peoples issues with completing everything from Short Sales to Deed in Lieus of Foreclosure.

There have been many posts here on Bigger Pockets about being an away or out of state owner of property… As you are probably experiencing, it can add another layer of difficulties when dealing with the day-to-day stuff… I think the key is to have someone local that is a partner on the deal… Too many people rely on property managers to do the job for them and that does not seem to work out in many cases…

A better (and even cheaper) alternative is to approach a seasoned landlord in your area and ask for a copy of their lease -- it's free and it will be 10+ pages long with lots of protection.These forms are actually more intense then you think and it also comes with forms you wouldn't even THINK of...

Real Estate is a math intensive business.

There is not enough money in the budget to sub the work out and if I go to the DR, I am afraid of what he is going to say.