The only wildcard would be the homes, which would have to be worth $4,000 each to make up the difference but, regardless, the bank appraiser would not include the income from them, anyway.However, the big question is what the market lot rent is.

I only have about 2k in the bank since I have been fixing up my primary residence.

I only have about 2k in the bank since I have been fixing up my primary residence.

Of course that monthly mortgage check that I cut to the bank does make me reminisce about that paltry rent check I used to give my landlord every month...Unfortunately, there are just too many variables to say that one decision is better than another.

For my day job, I work for a bank handling real estates in trusts and estates.  

We're currently waiting on approval letter from the bank so we can make an offer.

I have connected with a lender (not a bank or individual).I am wondering if is okay to ask the BP audience about a particular lending institution in terms of reviews, experiences.If that is not possible, I am curious what types of questions to ask this lender.Thanks.

Of course buying HUDs is an option but be choosy because you may find a GREAT house in a not so great area.BANK and ESPECIALLY local Credit Union foreclosures are a dream, as owner occupied you can negotiate repairs, new wood flooring, HVAC units can be installed and cost added to the purchase price banks will add New Appliance packages and even BLINDS for all the windows.  

I asked another newer investor the same question, and the only thing that would be a concern is that the bank may not approve because it's not technically my money.Example:A house is listed for 60k, I put 30k into the rehab., and sell it for 130k.

Well the buyers mortgage co has informed the buyers that i do not own the property and that it is owned by the bank i bought it from.