This MFH property is 50+ years old and the City wants to enforce recent building codes on this property.

Hi Jake, DSCR Loans are a great way to get started if you have a property in mind that is ready to rent once purchased or possibly even has tenants living in it.

You would have to at least be ready to do some renovations or search really wide and deep.

Then I work out an estimated rest of life (the building inspector did this as part of his report) and then I put in an estimated replacement cost. 

@John Guillory In my experience most wholesalers fail because they don't build the necessary knowledge and network and that takes time and work.

Not just residential, so it would expand the possibility of ADU construction to alot of building owners.

If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Also, they have a title business so it makes it a pretty easy process.Do you already have deals ready or are you just proactively talking to attornies?

This strategy acts as a low barrier to entry to allow someone with little capital to enter the investing world, to build equity, and repeat the process to continue to build their portfolio/wealth.I would be happy to go into more detail should you ever want.

Next time you talk to the renter that's paying late all the time, Maybe mentioned to him or her without getting too involved in their personal life, they should seek out a temporary job a few hours, a couple of days a week until they build up enough to get caught up on the rent, and make a little pool of money to use so they don't get behind again.Some Temporary jobs can be fun, like handing out rubber id bracelets at functions to the participants, or if the person is more blue collar they have jobs for those people too more suited to their tastes. just my 2 cents.