And you need at least 20% equity as conventional loans are usually 80% LTV.The benefits are getting a lower interest rate, at least with the rates we have right not, and getting rid of Private Mortgage Insurance, PMI, which is about $220 a month for me.

Insurance will also be higher (I own a 5 unit).The deal itself isn't the best, IMO.  

If you have a well-maintained unit in a decent area, your tenants will want to stay, even if the increase is substantial and it is within market rent.BTW, prior to purchasing, ask the owner for copies of the most recent utility bills, tenant estoppel certificates (signed paper from tenant stating financial terms of the lease) and CLUE report ( A report that lists if any insurance claims have been filed against the property in the last 7 years) to ensure property is insurable.

Someone who does insurance for rental properties, who understands our true best interest.

Phillip Thatcher, PresidentLandlords Association of Eastern Jackson County (LAEJC)PS: Don't forget to encourage people to contact their bankers, insurance agents, accountants, real estate agents, contractors and other landlords.

The "Housing Choice Voucher Program" is the standard section 8 rental program.It's hard to see why you would want to lend to someone who doesn't otherwise qualify for a loan.  

We take a 25% deposit upon contract signing for standard residential clients.

It wouldn't be uncommon to have to advance for many months of insurance and taxes.  

You should be able to get a copy of the standard purchase and sale agreement used in your state.

The front range of Colorado including the Fort Carson area has been a very hot market so appraisal timelines have been lengthened in general, but this is especially true with VA appraisals because the appraiser has to have special certifications to do a VA appraisal and the VA appraisal has more stringent standards than a conventional.