Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

If you need some connections, I run the most active group of small landlords in the city and have a network of connections that you could potentially leverage.

VA Loan – 0% Down (Veterans Only)If you're a veteran or active-duty military, you can buy a 1-4 unit property with 0% down.Must owner-occupy for a period before renting out.4.

(HousingWire)In stark contrast, recent figures show a sharp drop in foreclosure activity.

When was it built, and how old are the major systems?

I’m currently working on a deal in Fort Lauderdale & actively looking for financing solutions like hard money or private lending.

It may be helpful:I can give you some general info on insuring the property:Here are some things to look for from an Insurance prospective:1.Any in-ground tanks (active or inactive)2.Any Knob & Tube or Aluminum Wiring3.If built before 1978, does the building have Lead Safe certifications4.Any wood stoves or secondary heating units.

Detroit has so many features that make it the obvious stand out as America's next major Metropolis. 

We’ve been actively investing in the Upstate NY region, and I’d love to share some insights about the local market, especially areas like Albany, Schenectady, and Troy/, which can offer great opportunities for investors.In terms of your budget and goals, there are definitely deals in Upstate NY, and with the right knowledge and strategy, it can be a very lucrative place to invest.

All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.