My girlfriend and I are looking to rent in the city and my plan is to purchase an REO or foreclosure while we rent, obtain a 203k loan and rehab the property during our rental tenure.

You would be wise to obtain a Phase I Environmental Site Assessment to learn if there are any problems which will need to be addressed. 

Does anyone have suggestions on which bank(s) or credit union(s) will loan on a home(s) for  $45,000 or under? In my area you can buy 2/3 bedroom houses ready to rent out for around $42-45,000. It seems like most bank...

Trash assets produce staggering paper returns.

Beprepared and Proactively control the condition of your asset. 

When I was obtaining my license, we studied a similar widely-publicized New York court case. 

I have a client that has a great credit score and several assets looking to buy a duplex.

They advertise that through non grantor trust your assets are completely protected. can someone provide me info about the non grantor trust.

Even though holding a property as a rental will appreciate over time, you still have the asset in the long run.If the owner that you're lending the house to goes bankrupt or something happens, you still have your asset that has appreciated over time where you can repeat the process on a higher ARV home once fixed up a bit, basically

You will split your asset in different LLC, limiting the amount at risk in each entitity, creating a better asset protection structure.