don't forget to account for vacancy rates, insurance and maintenance that you'll be responsiible for as owner.

@Rod JosephYour post states "Mortgage Expense" is that supposed to mean that monthly debt service is $2,600 or is that Mortgage + Insurance + Cap ex + Management + Repairs?

I also have another question, I've talked to a title co that does assignments of contract.

I'm a licensed and insured general contractor who works on New Orleans houses and commercial spaces.

My strategy plan was to house hack a multi-family unit on a FHA insured loan, though I may have to rethink my starting approach.  

Hey BP Community,Lately, I've been reading up on Owner Financing, and I have a few questions I'm hoping the community will be able to help me out with.Just as a side note, the property is owned by an out of state owner and is free and clear.Questions:When purchasing the property, how does title ownership work?

So, in the big picture it gives him full title and all the other relatives are out, but I'm really concerned about the investment property thing.

As to your question: I believe that for any loan over 78% loan to value (an FHA with 3.5% down would have a loan to value of 96.5%) you have to pay private mortgage insurance (PMI) to protect the lenders in case you default on the loan.

@Tarik Turner What title company do you use?

We've been chatting with insurance brokers and a couple things have come up that I'm not sure about and don't know if they brokers really know either.The property will be owned in the LLC's name.