The lender doesn’t have to wait for heirs to get their act together and do probate, it’s up to the heirs to get it done, if they care.

Who cares if it takes you a year or two to buy your first property, 10 years from now you'll realize that the process to get to that first property is what set you up for all the ones that came after!

I want the seller, who are the heirs of an estate, to carry a 10% second for three years and put down 10% with an SBA loan.Any thought on this deal?

As you found, a rejected application because of your bad referral means you are stuck with the tenant.Eventually though they will only be able to rent to folks who don't screen, and those are usually the worst places who don't care about bullet holes and pests and rodents and code violations.Don't ever stop your eviction process until they are out of the property and you have keys in hand and have assessed all the damages.

But, I like having all of the exterior maintenance taken care of. 

Unless there has been a reported or recalled flood like Houston, N Carolina few cared or discount them.....The real question is how much is the mandatory flood insurance per year with a loan?

Looking for 10% or higher CAP rate from rentals…better returns than index fundsOrBuy and rehab/remodel an existing apartment complex in a B neighborhood and hold…I rather do the former (low maintenance)Location:I was thinking Orlando, Tampa, Jacksonville areas…good demographics, steady real estate appreciation, low unemployment, relatively low real estate prices… I currently live in Seattle area and the prices are extremely high for this kind of project.I am willing to temporary relocate or commute in order to manage the project (wife will take care of the existing business).I am looking for advice, suggestions, comments

It would be best if he calls the city and asks them to turn it in (although it is already on) in order to establish service for 2 reasons: (1) He's going to need to have the water on for the when the property gets inspected (banks won't loan unless everything is proven to be working) and (2) Right now the city could charge him with theft of water by turning the water back on himself (well, really the contractor did it but the city does not care). 

Just figured I'd see if anyone here new of an off market property. 

If he does not respond in kind tell him you are there as a care taker and he is violating the fair housing act.