Lenders are still unfortunately tend to be very conservative on the rent-by-room (SRO) type arrangements still - its an area that really could use some better understanding out there but just be careful with expectations because a lot of the treatment of these properties (even if nothing like a old-fashioned "boarding house") can be tough

Does anyone know if it's possible to take on a mortgage for this type of structure?

Every mailer we get is from the wholesaler/bottom dollar types.

Purchase price: $465,000 Cash invested: $6,000 Residence, Lake House What made you interested in investing in this type of deal?

Purchase price: $90,000 Cash invested: $24,000 Fix and Flip- South Side Chicago What made you interested in investing in this type of deal?

Is it a headache or is there any type of legal issues with this method?

@Jason BoritzYou’re totally right you need to invest in the right type of property.

**Dryer Vent: Use of Unsafe Duct** - The clothes dryer was equipped with an accordion-type flexible exhaust duct, which is considered a fire hazard.9.

I've been burned a couple times early on, but the type of personality that operates with no consideration of anyone else but themselves is easy to spot with a little experience.  

Any tips to get qualified for this type of loan?