Yeah Michael so far they've been real patient with me.

If he is okay with being patient and house is in good condition and has no motivation maybe best he use a realtor.

Fannie will actually back loans that are C5 or C6 (after C6 is teardown, C1 is new construction): "Properties with a Condition Rating of C6 are eligible for sale to Fannie Mae provided any deficiencies that impact the safety, soundness, or structural integrity of the property are repaired"As a consumer you would never know who those bottom feeder lenders are that would lend on a C5/6, since they have completely trash rates (better than non-qm and HML) and are slow (what would that commercial look like?

Yes it might be harder to find good tenants in Jan but you also have an extra 6 weeks in rent to allow yourself to be patient. $400 extra per month x 6 months.  

It’s possible if you’re patient and focused. 

Hmm...I wonder how it is the first examples seem to be important to all landlords, yet that last one somehow gets a pass from some landlords...maybe because there is a government program designed to act as a safety net in that scenario?

I'm definitely inclined to #3 as I got into this venture as a safety net and somewhat stability (otherwise I would just do REITs), but pulling in potentially bad tenants would be contradicting.

It just has to be a “functional” home with utilities and roofs with some life on it and no major “safety” issues.

@Kyle Brown typically I advise my sellers to take care of safety repairs.

@Eric James, I have a safety net saved up in place and I am starting to "Pay myself first" and save 20 percent of my income directly for real estate investing for the future , but I do not have enough for a 20 percent down payment for a property or any possible rehab expenses that come up.