I didn't say the loan proceeds would be taxable, although there are some extreme cases where it could be, I said the interest may not be deductible.I'd start with a good conversation with a CPA familiar with the regs.

Hi BP, When analyzing an investment property 3 numbers are extremely important along with others; 1.

Just thinking out loud..If he lives in the building currently, he may not want to sell - that would mean either moving out or paying rent in a building that he used to own.However, one interesting twist you could try if he owns the building free and clear - purchase with seller financing, then deduct his rent from the note payment.

We are extremely motivated and know we will succeed.

I had just recently applied for a mortgage loan, but had not checked credit score in about 8 mths, however last time I checked score was a 705 on all 3 agencys, after applying I had only checked with experian assumed may be a little better, only to find out my credit score was 635 I have some school loans which I have missed some payments in distant past, have not missed a payment in 4 yrs only owe about 4800 left, 3 seperate loans required to pay 100 mth and I pay 125, and one other outstanding dept it is to a bank, for a previous closed account, which I owe 215$ it was from 09 for a 1$ overdraft which they kept billing me 30$ a day for a week before I was notified needless to say I was extremely upset and closed account, I know stupid I should of taken care of it and will as soon as posable.

To me I would think there could be extreme value in a property, that due to its current engineering allows for less than the 2% rule, but with careful and thoughtful reengineering (adding a half bath, closing off a big room to make 2 rooms instead…etc,) you could accomplish that the 2% rule with the added boost in rental income that not everybody would be able to vision.That being said let me pose the question that I hope will initiate some discussion.Has there been a time where you bought a less than attractive investment property and were able to change the dynamics of the floor plan with regards to beds/baths in a way that allowed for a substantial increase in rents?

No one harmed but the bugs themselves and extremely cheap.

Coming from a rehabber, albeit a humble new one, it would look extremely attractive to see a deal coming from a wholesaler that has done ALL of his homework upfront.

That process with all these professionals involved creates an extremely well thought out, valuable, audit balanced, and due diligence approved project by all!

I figured my chances were slim because I knew it was extremely small but BP hasn't failed me yet so I had to try.