i had an investor come to me with this idea on a 4 unit i used to own...only reason i considered it with him was bc i knew him, and he and his brother owned 50 plus rental units in the immediate area, so that gave me confidence...i don't let my tenants in an apartment without first month's rent and a deposit, so i'm definitely going to need a decent amount of money upfront to give someone else total control over a building of mine

If you're not planning on living in one of the units, then yes, you're likely to need 25% down unless this is a FNMA property that qualifies for Homepath financing, in which case you could put down only 10%.Now, as to that 25%, it's not supposed to be borrowed funds.

I'd get an estimate on all work that needs to be done so you can show her how much you're going to need to pay for rehab after you buy it.

there is lots of great advise on here. there are tone of more experienced people on here.Some ideas;Sherwin Williams has great prices on contractor grade carpeting and they install.Sherwin Wiliiams has great paint too - ProMar 200 has great hiding characteristics - retail is $22 per gallon.

So I’d swallowed my pride by forgave his half month rent that he’d never paid and offered his security deposit back in full; expressed as that he’s rather the one doing me a big favor to cut me lose; in a baby talk tone; advanced from his refund and rented U-Haul truck and storage for him.

The tone used in the two articles was somewhat contradictory with the Fitch Report being more on the side of doom and gloom while the CNBC article paints the situation in a relatively positive light.

Even these low-end properties now get all new flooring (carpet and 18†tile with deco dots) new appliances, granite counter tops, new sinks and faucets, dual pane windows, new base, casing and crown molding, new plugs and switches, interior two-tone and exterior paint.

Most wannabe home owners won't have the money, the savvy, or the desire to do the level of repairs the home is likely to need at that stage of the transaction.

I suggest you read through those articles before you build the sites or spend money on them.You are likely going to need a broker-dealer on your team if you choose to go that route.

Many times you can't even get into homes without having an accepted offer so this is something you are going to need to do on the fly anyway.