One residential lot or multiple ACR?

You don't have to sell 100% of the mortgage, you could do a partial.A cleaner and easier way to do it is to just have multiple notes set up in the first place. 80/15/5 and sell of one of them if you need the cash.

i feel like break even would be fine for me.i'm about to close on a condo for 157k. it's a 2BR 2 BA. multiple comps in the past have come out 180k, but those units were in really good condition. i got it appraised and it came out at 165k. i have a friend who says he can help me do most of the rehab for 5k so i just assumed it will cost closer to 10k.so i'm assuming after making repairs of 10k on top of me 157k, my net profits would be 180k-167k = 13k.I thought that was a good deal but you guys are suggesting I need 25% return but that would mean I need 40-45k profit.So I make my 13k sweat equity, and I saw a studio apt in the building go for 750/mo so I figured that if my mortgage payments are 750/mo and my assessments are 500/mo, I would need 1250/mo to break even.If I get a roommate and charge 600-700/mo I would only have to come up with 550-650/mo which is already cheaper than the 800-900/mo I was previously paying.

In addition to my local portfolio, I've recently started wholesaling deals in multiple states.

If they aren't correct and there are multiple kitchens and entrances, then getting financing is a major issue.

That gives you plenty of money that you can use towards multiple properties that could begin to replace your income and move you closer to your financial goals if used correctly.

When you're ready, take a nibble, then give it some time and if everything falls into place - go full boar.I'm an agent in Oklahoma City and we have multiple repeat out of state investors whose properties we also manage.

@Mr Davido, so I have attempted to contact who I believe would be rightful heirs but on multiple ocassions I get no response.

I agree with everyone's responses.Unless you've got spotless credit (730+), most banks won't even waste their time.Reasons to go with a broker: access to multiple lenders (I could say 100s, but that'd be a tad over the top) to find the best rate, credit score doesn't have to be the best, specialization (most bankers do everything, and might not know how to tailor fit a loan to your needs).Obviously my opinion is slightly biased :D(see blog)

There will always be motivated sellers in every market, so interest rates can help and sometimes make it worse for an investor.During a time when interest rates are high though, multiple opportunities end up presenting themselves.