He also said that after 4 they will not count my rental income from the properties until they have been rented for 2 years.

If a loan is paid as agreed and the collateral is in acceptable condition they usually renew that loan for another like term, but don't count on it as a certainty, they can ask for all their money back.

It's not OUR expectations that count.

If it is cash flowing more than you would pay in rent, it is probably an ok deal to keep as a  rental.I did notice that you said that you have to wait 2 years until you can count the income from the property towards a loan--that is not actually true for all loans.  

I think it's ludicrous because I have two other investment properties and have had them for over a year each and they wanted to count it towards my DTI... as if I didn't receive any income from them.... ugh.

Wonder if all those Detroit vacants are being counted into the median home price.It's also not entirely clear from their website whether they are using a city-specific median income or a national one.

If you decided to use financial aid, the debt may be something that can count against you when you invest in RE.

Did he serve you the required 3 day Pay or Quit notice, or the with an eviction notice counts I and II?

hi,my name is dave atchison,i moved to phoenix az from fargo north dakota,when i was 19 years old. that was december of 1979,i have seen the town go from 1 to 4 million in those 36 years. i am soon to be 56 years old,married 35 years,2 grown daughters who are nurses,maybe be a grandpa some day.i got into real estate investing kind of by accident. i was 20 when i bought my first home,as the apartment i was living in had bugs, and i could not get them to leave,so i left. i bought my first house in 1980,i had to sell my paid off car to get the 3k down payment,then i paid cash for a $500 rambler car..lol bugs and a rambler..2 years later the home was worth 40k more than i paid for it,my payment was same as my old rent. i got married and my wifes job was on the other side of town,i felt so much pride of ownership for the home,i kept it and rented it out in 1985,and we bought a nicer home more centrally located. now i have 8  paid off single family homes,and 2 paid off condos. the condos are 150k  range,the homes 225-275k. phoenix is a boom or bust town,so when we moved to our next house,had kids and out grew it, we were in a recession,so i would have lost the 30k we saved to put down and remodel it,so came  the second rental. i have been lucky we have been able to live off one income  in our marriage, and invest the second income in real estate and mutual funds. and i always worked a job and a half to earn more. i would flip homes,condos,raw commercial land years 1995-2005 also,and invest those in more rental homes. the crash of 2008 saw us buy more rental properties at 50 cents on the dollar. i think residential  real estate is  just 1 safe place to put your money,mutual funds,and your own business being other good places. i have 30 years landlord experience,and 25 years commercial building  experience. it would be nice to develop ,and build and run, a 30-40 unit a rated apartment complex. i have the experience now,and i have never had a problem in 35 years leasing out any of my places. in the recessions of 1990 and 2008, i did have to lower rents $100 per place, for 2 years,and take tenants with lower credit scores. i have only had 1 eviction in 35 years of being a landlord. i got in to real estate by accident,but stayed in as it became a passion,the properties almost take on a life of thier own ,and speak to me,to tell me to take care of them cause thier worth it,if they are in a nice area,i never invest in an area i would not live myself. i am big on real estate being free and clear,as my places have been for 5 years now. even being free and clear and managing them myself, i only average about 11-12% returns,i dont count appreciation,only cash flow.. i tried to post a pic 3 x but it wont work?

Maybe the market will jump 10% in a year, but I would never count on it.If I were you here's what I would do over the next year.1 Save Money2 PM @Tim Campbell, agent, investor, flipper extraordinaire.