@William Larsen  is correct that 80% of FMV is more realistic. 

@William LarsenThanks for the warm welcome.

@Chiniqua Williams Reread @Steve Babiak previous post.

Originally posted by William Dem:I want to buy another property hopefully after I can get both units rented out.Also, would it be better to try to get 70% of the value Not sure what the question is...If you need more than $76K, it's probably better to try to get more.

If less than 640+ FICO borrower would need a bigger DP.Franklin Loan Center:Preferred lender for 3 of the big 4 realty companies (Windemere, Keller Williams and HK Lane).

.- Cash on Cash approx 20%Negatives: - Sherwin Williams lease is up in 3 years, but they have been there for over 30 years.- If Sherwin or Radio shack leaves then there will be TI money needed to redo space.- Lastly, the expenses are without a management fee, and vacancy reserve so with that included it may be a lower NOI.

Andrew Sackheim- Real Estate Law Group in SacramentoRobin Bevier- Estate Planning and Tax atty in Gold RiverCPA- Jamie Williams at Williams & Olds

I don't expect labor/material pricing to get lower in the next 10-20 years but if these home prices don't quintuple or more there won't be any new construction in these urban neighborhoods.Here are a few links about things going on in Detroit somewhat related to accelerated demo of some blighted structures in the city:Detroit to get $300 million in federal help - Sep. 27, 2013 - CNN Money http://money.cnn.com/2013/09/27/news/economy/detroit-federal-help/Ford Foundation donates money to help Detroit manage its federal grants http://michiganradio.org/post/ford-foundation-donates-money-help-detroit-manage-its-federal-grantsBill Pulte: From Home Builder to Detroit's Unlikely Blight Buster http://www.forbes.com/sites/joannmuller/2013/10/09/bill-pulte-detroits-unlikely-blight-buster/Gilbert: Tear Down All Of Detroit’s Abandoned Homes At Once http://detroit.cbslocal.com/2013/10/01/gilbert-tear-down-all-of-detroits-abandoned-homes-at-once/Plan to eliminate blight in Detroit may top $1 billion, task force says http://www.freep.com/article/20131212/BUSINESS06/312120137/Detroit-blight-Quicken-GilbertDetroit bankruptcy judge orders company to stop collecting casino revenue (Access to about $180 million a year that was flowing to creditors from its casinos) http://whtc.com/news/articles/2013/aug/29/detroit-bankruptcy-judge-orders-company-to-stop-collecting-casino-revenue/http://www.freep.com/article/20130903/NEWS01/309030148/Kevyn-Orr-William-Buckfire-depositions-Detroit-bankruptcyFederal, Foundation, City and Corporate Investment Areas in Detroit http://datadrivendetroit.org/web_ftp/Data_Mapping/InvestmentAreas.pdf

@Chris Williams I'm a newbie wholesaler and I was wonder if your share your contracts with me purchase and sales agreement/assignment [email protected] 

Hello William,From my experience and many others, when a prospective tenant (1)wants to give you rents for that many months in advance (Beware)...That may be all you’re getting.