Issues with Assigning a RE Contract (with BANK OWNED REO property)Many BANKS who are still putting out their REO inventory are refusing to allow for ANY type of language in the Buyers Purchase agreement which allows for the BUYER to ASSIGN their purchase agreement thru the Escrow. 

I recommend talking with Tony Guzman and Bank of the Sierra in Fresno, he can give you all the up to date info as they do a lot of commercial MFH's there. 

These loans are lower risk for the bank, the money is unlimited (they just go back to Fannie/Freddie for more), and you can find them at just about any bank. 

On years where tenants renew leases, ROI increases to 13.8% since the PM’s 80% of first month’s rent for marketing and putting a tenant in place is not required.A couple of lessons I’ve learned during this particular purchase:If you’re scheduling a wire transfer early, call the bank to make sure they completed the wire as scheduled on time.  

They have ageeed about 50% of our current home value based on our bank statement deposits.

The bank will want the cstore entity, the real estate entity, and you on the hook.

Is the Bank saying no?

I bought a 4 plex for 6k fROM BANK long story.

In other words, you are borrowing 80% of the rental property cost from the bank but you are borrowing another 20% on the HELOC.

I am lucky in that I have an amazing one who does no break the bank :)