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Hi @Renzo Figueroa, I know someone buying properties in the Tampa Bay area with a unique rental strategy that is grossing around $4200-4500 per month in rent based on long term rentals on properties around the 400k price point.

Your promissory note can require escrowing taxes and insurance.

I have a fellow investor telling me it's a great deal because I'm acquiring a property with zero out of pocket and I can do the following strategies. 1.

I would keep the property, take the extra cash flow & invest in more rentals/real estate strategies. maybe start another business. never sell the house unless i absolutely have to. 

In fact, you'll probably get better terms on the refinance if you are living there, I know my local bank will let me do 85%LTV loans without mortgage insurance if owner occupied, but I can only get 75% LTV on investment properties and the interest rate is better by about 0.5% on owner occupied.

The title insurance seems reasonable to me but its impossible to know for sure without having the property address. 

Their model seems to be to short term rent (3 months) to insurance companies and then pay 1 or 2 months rent (late) to the owner and eventually just quit paying. 

Your local S8 Housing Commission should have an info sheet on their website that shows their deductions if landlord chooses not to include electric, gas & water.Even more critical, your $680 mortgage amount, that you appear to be comparing to the S8 rent, should include ALL the other housing ownership costs: property taxes, insurance, vacancy/tenant nonperformance (S8 tenant may have to pay part of rent), maintenance & miscellaneous.Suggest you use the BP Calculator for this.