If the lender or broker gets an approval through fannie mae's automated underwriting engine without any assets listed on the 1003(loan application), then the lender will not ask you for bank statements and you will be able to work around the letter of explanation BS that comes with a loan in today's market.

And Robert L is right, ask your buyer's what they are looking for, where and how much they are willing to spend and then go find it.Reverse engineer this thing and your buyer's have done half the job for you.

We are good to go to begin our engineering study and submission of architechtural plans.

My investor buyers are reluctant because the loan (8.5%) is too steep.I know Phill Groves had been teaching his AMPS system where investor/wholesalers serve as transaction engineers and link up the seller and the retail buyers for a fee.

Listening to all the BP and Mark Kohler podcast, read the UBG, hunting through the forums, in the middle of the J Scott book on flipping houses, and talking to local investors - input is always welcome.Background is Aerospace Engineering (rocket science) so I am very excited to broaden my horizon and learn the real estate industry.

Mine, while maybe more involved was $1,100 in fees, $2,800 in survey/engineering, 140 days.

I am a freshman in college majoring in engineering.

I would check with the water authority engineer on how much the actual average usage is for that size and bed unit mix.I think the shown annual expenses are low and once you dig into this the properties expected cash flow will keep going down, and down, and down.Ask for historical occupancy the last 3 years.

That appraisal doesnt take into account any of the upgrades I've made(replaced laminate floors with engineered hard wood, laminate kitchen countertops with granite, paint, among smaller less mentionable things).

My regular job is in civil engineering for a local municipality but I also have an MBA and I probably have the equivalent of a Master's degree in the Subdivision Map Act of California.