There is a not so inexpensive fee - anywhere from 5k to 100k depending on the program and they take a % of each deal. 

Is there a demand clause where they can call the loans for no reason?

So, again, why wouldn't the landlord want additional coverage from the tenant's policy?

If I were the neighbor, it sounds like I'd be the only one bringing money to the table so you could get something you want.

If so, how is your experience so far?

Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

I am interested in buying a long-term turnkey property in a nice area (I live in San Diego so this property would have to be out of state).

My goal is to be able to get on a facetime/zoom call with them and go over all my offers on properties. 

Thank you so much! 

Unfortunately that also lowers your return, so you might consider staggering the lower payments and rate (say 6%, then 7%, then back to 8%) over a couple of years.