Thereafter, buyer makes payments to seller as set forth in the promissory note.Here's why I think the foregoing rarely happens in residential deals: (A)  It requires a seller who either owns the property outright, has a very small balance on their mortgage, or has a substantial amount of other liquid assets such that they could have already paid off the property. 

This number is going to be different across every market, asset type, and lender, but it's something that each lender should provide in their initial preliminary quote, and in most cases is negotiable.I'll usually ballpark reserves at ~$250/unit for stabilized multifamily. 

At the end of the day we felt this gave us the most protection to our personal assets.

As a landlord, what information do you request from a new tenant? Ex; drivers license, dob, etc..

Early research tells me that rental rates are pretty good here (about $1.25 per sqft), but would like to see if real investors on the ground experience the same.Also, on flood insurance, i'm finding quotes ranging from $600/yr to $1,500/yr but not clear how that works within the different flood zones and asset types.

Still a high percentage of owners who are getting up there in age, and cap rates for MHP are still several percentage points higher than other asset classes.

Hi guys... we purchased a commercial building and already moved a few walls and added a few electrical outlets... my question is NOW after we realized that we need the Certificate of Occupancy what is the best route to go for obtaining the right permits to get the CO? 

Currently we have managed to obtain a 4 unit and 3 SFH and are looking to possibly do a 1031 exchange into a bigger multi unit or possibly use HELOC $ to work a bigger multi-unit complex deal.

(Note: I will update my profile and do a noob post this week)I recently finalized a divorce and the remaining asset between us is the house we bought 6 years ago.

After the rehabs and while still owner occupied consider if a refinance will allow you to obtain some of the sweat equity from the rehabs.