I did have two called and we paid them off upon receipt of notice from the mortgage servicer/ credit union in one case.And there are many more gotchas bottom line if you have deep pockets this is fine if an investor thinks this is a no money down I dont need any money this is a disaster waiting to happen.

You don't need to be rich, but you need to be ready.Due diligence is non-negotiable.

My situation: I have an FHA loan at about 5.5% and my understanding is that it usually makes sense to refi once rates are about .5% lower than your existing rate, which means I may need another .75 to 1% decrease in the rate.

Also, depending on the area, codes and historic have been a big pain especially since the new city administration has put a much higher % inspection requirements for "cosmetic rehabs".I've been able to turn majority of the units in the last 3 years. 

Let me know if you need any help with meetup info/connections. 

I am needing clarification on a mortgage financing question and DTI.

Bob, thank you so much for writing me.

You can look at getting a commercial line of credit from a local bank if your cash needs will be short term.

If the prospective tenant has a realtor/agent, do I need to pay them?

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.