My former office manager busted her butt to help a client buy a $14k mobile home in Salinas because that is what she could afford.

If he can afford to make his payments and he can show that on paper the chances of the bank wanting to work with him will be slim.

Seriously, she can afford $100 a month.

It all started with civic activities, eclectic graffiti programs, libraries, parks and all the stuff intended to benefit the lives of the people who can no longer afford to live there, but instead live a little farther east from their jobs (down town) and in the same crappy neighborhoods they can afford to rent in.Point in case, you can deploy negative strategies like trying to get property taxes increased and other dissincentives to remove the riff raff in addition to the positive things you may be considering.

The seller makes so much money selling you this house they can easily afford to subsidize the rent and PM fees for the first year.

I would never buy condos in a place like Utah or in the Midwest because SFR's are so comparably affordable, first time home buyers in those areas still will always buy SFR's.

Because this is Katrina area, I also need Wind Insurance, Fema, etc. which I can no longer afford, living off a pension.

People were locked into houses they couldn't afford, that were worth less than they owed and were stuck were the jobs were fading.

PITI is 904 a month.They are so much more affordable than SFH in a comparable part of my town.Thanks for your thoughts.Kelli

It's so frustrating and I've often wondered what would happen if we put an offer in not disclosing we were investors (Granted, I would NOT do that), just was curious if there were huge penalties or fines if one got caught.