However, a roof over their head is the minimum that buyers are looking for.If you've got a less than desireable house in a similar neighborhood then you don't want to be a long distance landlord.One other thing.

Go to have you on board and :welcome:As to the comment about rent.There is a cost associated with a roof over your head.

There are lenders who are not concerned but those lenders will charge higher rates, have poor terms and pre-payment penalties in many cases. 6 or 12 months seasoning will open up all the normal lending options.As Scott mentioned you really need to understand the refinance assumptions before heading down this path.If you want to pay commercial rates and terms many commercial programs will let you use the appraised value.

Mark,Head over to the New Member Introduction forum and start a thread where you can introduce yourself.John Corey

Better to pay a specific fee to get it done right then to have a nightmare and the associated costs from a broken/clouded chain of title.John Corey

Make it clear that you have an interest in the property but use active listening skills to learn more.It is hard to know what the seller might want when you have no idea what is going on in their head or in their life.

I jumped in head first and now I have 12 properties in upstate NY.

I know for a fact when i first joined biggerpockets I was like a chicken with it's head cut off and had no direction.

The provision would raise $2 billion in additional taxes over the next decade, according to an estimate by the congressional Joint Committee on Taxation.Industry trade groups including the National Association of Realtors, the National Association of Home Builders and the Mortgage Brokers Association, which want homeowners to be protected from taxes on forgiven debt, support the measure.

Worse is when they did and then did nothing with the knowledge they picked up.Look at the folks who go to college and then head in a new direction.