I suggest you get the 30 year in the beginning, use those refinancing loan costs to reduce the costs of repairs.

And it reduces the cash flow from the property.

If I were to purchase the property I'd challenge the tax assessment every year (or as often as the law allows) to reduce it over time.

Or, do a modification and reduce the interest.I ran the comps and only shows 3 houses, one pending for $119,900 and the other two sold.

We'd like to acquire another property, and we wouldn't necessarily need both of our incomes to qualify, though if our current property is paid for by both of us, it might reduce our purchasing power.

I'm also interested in creative financing to reduce our cost to leverage our money.

Prior to 1 year they will only use the most recent purchase price, meaning you would still have to keep 20% in until 1 year.I have heard that some smaller banks will reduce this to 6 months, but I have not found one yet...

I would think that the person who bought it would see the value in staying put.I am reducing the value of the business because I want to sell it quickly, but I want to keep the building occupied and making money on the rents.How would I structure a deal that keeps them in the building?

This is an estate planning measure to reduce taxes and facilitate an easy property transfer in the event of a death.Also, on REO properties, 99.9% of banks will not accept offers on these properties until they are listed with a real estate agent.

Also, time is a great motivator, the seller has already reduced the price multiple times and a lower offer of $125k may just fly.