@Bruce Runn The whole point in direct mail/yellow letters is not to find deals with investors, so in that instance you are quite correct, the vast majority of investors will not be interested.

The appraisal for the house came in at $335 when we bought it, and we conducted what we thought, was an extensive inspection (including a separate termite inspection).

So for instance rent would stay the same and then go up 6% in one shot.For mom and pop they could sign a five year lease and go out in year three.

For instance you can locate all 4 unit multi-family properties in Miami-Dade under zoning code RU-3.  

For instance if I am a motivated home owner looking to sell my property, what would be the common searches I would use?

Hello everyone.My name is Mark Colburn and i'm a new member to BP.I bought my first property in Nov of 2011 and it was a multifamily side-by-side duplex.It was a bank owned property that we did an extensive renovation to including two new kitchens, two new bathrooms, new flooring, new paint, new water heaters, new vented bathrooms, tons of repairs to walls (was prior section 8) etc.All in all I spent about one year and $35K on the renovation.

You made extensive repairs to the house and had it ready for rent on July 5.

For instance, not allowing additional liens is impossible since mechanics liens can be common place and unpreventable by the lender.Taking ownership positions opens you up to liability issues.That stated, I really don't like the 10% rate plus the additional equity profits because they may not be there in the end and all you are left with is 10%.

It is then that much more rent ready when I have turnover.For instance, I have some dated light fixtures in one of my rentals.

In this instance, it wasnt about knocking how you chose to handle your situation, rather to point out the potential downside.