The reason is I know which lenders:do a good jobstay on top of the necessary tasksknow how to be creative within the rules (some people don't fit into the standard mold of a buyer, and some lenders don't know how to get them approved, and some lenders know how to get them approved)and which lenders can actually close deals.Another reason is, as someone like you who wants to house hack, not all lenders are experienced in it.

This costs you nothing but as a general rule, the agent you invite to do this is the one you should list with, if you decide to sell.

Oregon has many rules.. one that most miss is that you need a developers license to fix and flip homes.. unless your a GC.. but as investors we need those..

Hello,I have found the "HOA rules" but the California lease agreement includes that I should provide a copy of the "rules and regulations," what is customary to include there?

Account Closed you have 2 items here to be aware of:Banks don't make a lot of money on smaller loans (so many don't write them)Buying with cash has a lot of rules to it (delayed financing, etc.)It might be hard to find a smaller lender in the area of the property so try to post on the Michigan forum to see if anyone can help with it. 

Thanks in advance for your support! 

@James Wise who knows that area first hand, is not advising a newbie to start there - and he most likely has the properties there to support his opinion. 

For an initial review would you suggest to simply use the 50% rule and only if the initial metrics pass would you due further due diligence such as request as expense breakdown from the seller?  

We are working with the closing's title company - they are reputable and we have an open line of communication with them, and the listing agent, seller's lawyer, and the reputable title company have told us it's clear there are no liens - to make sure we are sufficiently insured in the title insurance, to make sure the title policy has coverage without any of the liens exceptions listed on auction.com:"Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"Is this the right approach for bank-owned?

Monthly Cash flow: $110.51COC ROI: 9.86%2% Rule; 0.74%I would need to find a partner on this deal to cover the additional capital I do not have.