If you don't have a funds to do this consistently over time and expect results from your first mailing, you're wasting you money.

I sent a welcome letter to both and let them know about the change of ownership and that the lease they signed with the previous owner was still under effect.

If there's more cost effective options I'd love it if you could point me in the right direction.

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

Hello all,Hopefully I didn't miss this when performing a search, but I've read over everything I can find on seller financing and it looks like it will now be more difficult than ever to sell the POH on any purchase.I do have two thoughts on the matter though and hopefully someone with more experience can tell me if I am wasting my time.

Ahh I think I got what you're trying to say it is different how rental income is calculated when the subject property is owner occupied or non owner occupied, explanation below.To clarify:For rental income on a Non owner occupied property (which I believe this is)right 800 income - 800 liability is $0 to make the borrower qualify for and you divided it by 0 because he has no other income so the ratios are 0/0 if gross rent was 1066.67.The 800 Income after being discounted by 25% is netted against the 800 PITIA = 0 effect plus or minus to the borrowers scenario.For rental income on a primary residence:What your implying is how rental income is calculated if the subject property is a primary residence then yes it would go as you had mentioned because the guidelines do not allow the borrower to net the income against the monthly obligation so income would go in the income category and PITIA would go into the expense category similar to what you mentioned 800 / 800 = 100 DTI (debt to income ratio).

Buying is definitely more cost effective, but building will allow you to get exactly what you want.

If a broker/ agent isn't analyzing their time for maximum potential then they are failing running an effective business.

Additionally, you have a signed lease already in effect, security deposit, and first months rent.

I had our HVAC guy I have been using look at it, he said it is 12-15 years old and to repair them is pretty much wasting money as they are going to be band-aids and possibly not work at all.