For every property being considered (before you buy), you need to evaluate the condition of the major systems and see what condition they are in and what their remaining useful life is.  

I am looking into purchasing a home around Federal Hill, living in one bedroom, and renting out any of the remaining rooms.

So a management company can make or break you on those.This is why it all goes back to liquidity and net worth weighing risk assessment.If the person truly wants to remain passive they can just invest in a fund but must vet the operator for experience and a sound business plan to pay out anticipated returns and keep the asset performing.  

 $135,000{ARV} - $18,000{remaining mortgage} = $117,000{ARV}$117,000{ARV} x 70% = $81,900$81,900 - $15,000{repairs} = $66,900 - $10,000{wholesale fee} =$56,900 ALL CASH OFFERWhy not start at $30,000 wholesale fee?

Originally posted by "SoCal_HEMIHead":...Countrywide is offering 90% LTV on investor loans, but I'd love to get 100%...The 100% non-owner loans are gone... 90% is about all that remains...

Please try to remain civil here on the forums.

I have to answer your question in a slightly different way, as in the case of Triple Net leases different rules apply.The best financing (CTL financing) is available if you have an Investment Grade Tenant such as Walgreens and a remaining lease term of at least 10 years plus.CTL financing is negotiable at 100% plus, but you need to know the "language" and the rules of the game.There is no school where you can learn the game, and the insiders typically do not share their knowledge.So CTL financing is determined by the creditworthiness of the tenant and the strength of the lease; not by the appraised value of the building.With Non-Investment grade tenants you (only) have access to regular sources of financing, and the normal rules apply.Hope this helps.Louis Bergman

Gary,If the location is good for a Multifamily project, you basically have 2 options.You could design your project in such a way that it qualifies for your State's LIHTC (Tax credit) program.It boils down to developing and building what is basically a subsidized lower income project.As with all Government programs there are some very narrow restrictions there, but also some serious financial advantages.What I personally don't like about it is that it is a cumbersome procedure, and the outcome is never certain.Alternatively you could consider setting it up so it qualifies for a special Loan program that takes into consideration the value of the land once it is entitled.In normal English that means that you would get long term, fixed rate, non-recourse financing.So none of those F-words would apply; like FICO, Freddy, Fannie, etc.And if done properly, you would most likely actually get a check at closing for some of the value of the land.I will be more than glad to discuss further with you on the latter scenario.Hope this helps.Louis Bergman

Loan to Value (LTV) refers to the bank's portion of the loan, meaning the remaining portion is your responsibility.

But, it will remain less liquid than most other investments.