Truth is, GREAT deals exist all the time.

Also, what does the city say about any existing code violations?

I live in Milwaukee; it seems to be OVER-saturated with investors; yet when it comes to asking advice, they freeze up!

I know this answer I have provided will probably makes whatever "BS Smell" you are smelling a bit stronger, but whether I posted my deals or not, you or anyone else's skeptism of this program would have likely still existed and it would have been a waste of my valuable time.

That means you have to qualify for both the existing one and the new one.If you actually get your current one rented, and can show a tenant has been in there for a while (90+ days, I've heard), lenders will acknowledge its a rental.When considering rentals, they will take 75% of the rent, less the taxes and insurance, and compare that to the P&I payment.

If you want to get another loan, and don't pay off the existing HML, the bank will consider the value of the property and the amount of the existing loan.If the reason for the loan is to pay off the HML, they will consider that.

A similar model could exist for a high volume wholesale business that re-invests their cash profits into income producing properties that is aquired at bargain prices as well.The immediate boost in cashflow on an investment property comes form a combo of buying low, using leverage, and getting favorable financing terms and locking in strong leases on your units.

Some people might fear competition in some businesses but if that is the case, find ways to work with people in other countries to support each other rather than take over. e.g. distribute through existing channels.

Of course groups like this exist and are "secret" because frankly 90% of people won't even get off their butts to be successful, but aren't afraid to attack and feel entitle to the wealth of those who are.

You also may be able to extend the life expectancy of the existing plan by averaging your age with the decedents. .