His secretary also mentioned that if I was serious about this she would let the attorney know so that they can stop it from going to foreclosure. 

I can't comment about the franchisees that you mentioned, but with the bit of experience I have, I would agree, low income is not where I would want to start.You definitely need to have the right personality to handle lower income rentals.  

I'm asking because a few years ago when I financed the purchase of a rental my loan broker told me there was one and that there will be one on any new loan/refinance on any residential investment property but it's not something I see mentioned on here or hear about in podcasts when closing costs are being discussed.

I forgot to mention this: The plan would be to use the Heloc, cash out refi and/or loc as the down payment for the mortgage that they offer.

The mayor recently mentioned he would like for rent control to apply to newer buildings toohttp://abc7.com/politics/la-mayor-calls-on-ca-to-m...I could see an opportunity if one could buy a multi family and rent at least one unit on airbnb.

But as I mentioned, to transfer it (at least in Cleveland) They require a VERY large deposit for whatever reason.

My thoughts are as follows.1) You mentioned a better product with "maybe sacrifice some margin".

@brandon Davis,I do live in Tomball and as Fred mentioned, this is a fast growing area.

Be careful that you never ever make money charging back utilities like you mentioned.

I forgot to mention that what I have now is a CO-op and I found out that for example Wells Fargo will not give out a mortgage or cash refinance for a Co-op.