Its a numbers game and thats just what it takes to take deals down off MLS.2) What I would suggest is finding 2 or 3 realtors that are the listing agents for a majority of the bank owned properties in your area.

I have already cross referenced my list with the county probate files, so this is only pertaining to estates not in probate (which happens to be the majority of my list).

Great letter...that will go a long way in helping you find a well-qualified applicant.I'm in a major urban market with high rents so to me, the requirement that the tenant earn three times the rent seems too high.

This is a type of relationship where you are looking for turnkey rental cash flow, not major market appreciation for a flip.

Fair housing laws state:If you or someone associated with you:Have a physical or mental disability (including hearing, mobility and visual impairments, chronic alcoholism, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activitiesHave a record of such a disability orAre regarded as having such a disabilityyour landlord may not:Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing.

Jamie,you have some details correct and some mixed up a bit - let me help.There are 4 components to a property - let us use a single family home as an example.There is the house - bricks and sticks.There is the deed - who owns the propertyThere is usually a note and mortgage - the Note is the promise, the Mortgage Secures the promiseThere is occupancy.Most people think these are all in the same and sometimes they are - in our instance, they are not. 123 Main St is the physical address.

I have had the majority of the recommendations point me to AREA in Waltham as @Shaun Reilly suggested above.

In a major market like DFW or LA, the MLS is a wasteland for investors.

Since the HML is the primary capital, you should sort these concepts out with the HML first so you understand what you can and can not do with the lender who provides you the majority of the funds.It goes without mention, hopeful you are also reviewing the economic impact to your bottom line of borrowing additional funds, paying interest or return on them.

But then UBIT may not apply on rental component of the income.