Oh, we usually give them something down, just don't make the assumption that they need 10%.

I have gone through the owner occupied loan process for a 2 family and am making some assumptions based on that experience and some other information that I have been told.  

This takes into consideration the following assumptions as far as expenses goes:Property Taxes: $2500Insurance: 800 (annual)Maintenance and Repairs: $1200 (annual)Utilities: $0 (paid by tenant)Advertising & Administrative: $300 (annual)Property Management: $0 (self-managed)PMI: $909 annuallyHOA: $125/mo.$130k all in with price and improvements, I would charge rent of $1400/mo. when I decide to move out after a year. 

The assumption is that the credit is pulled with consent and in conjunction with an application.  

I haven't seen a true Schedule C yet (requested), but my assumptions appear solid so far based on spreadsheets with revenue and costs.What are the reasons investors sell properties?

Based on that assumption, your annual income from the property is $6,600. $6,000 annual income on a $65,000 property is ~ 10% return on the investment.

OF COURSE, the answer is "IT DEPENDS"... so here are the Assumptions:  I'm a buyer/holder that has a great track record and plenty of properties in good shape that I can show to the Seller on local public record.  

@Wayne BrooksI made a bad assumption. 

My assumption was that this would turn up in another auction -- as that seems to be the way homesearch.com does things.Well, this morning, in one of those auto MLS listings emails -- opened it up and sure enough the property was in this email.

(I'm going on the assumption that you are looking to do a L/O on a SFR)You (almost certainly...unless they do things differently in OK) need 2 Contracts.- Residential lease- Option to purchaseTalk to a local attorney and/or a trusted local investor versed in lease/options, then run what he/she gives you by your attorney.Alternatively, you can read the mountains of commentary in this forum.