If they would have to force you out you might be able to stay longerDo the owners have a  mortgage or do they own the house free and clear?

Many agents balk at selling acv policies, or make up their own rules, in an effort to force you to overinsure.

I would expect a better cap rate considering you can't force appreciation as on a true MF (5+ unit) property.

My other question is with REOs...when a bank is forcing you to use their title company and thus moving some items to exceptions in section B do you just accept the risk since you are getting a Special Warranty Deed anyway OR can you opt to pay for additional coverage so that there are no exceptions while still using the bank's title company OR close with the bank's title company with exceptions but have your own title company run  a title search and make sure that the exceptions can be cured after closing OR insist that the bank give you clear title with no exceptions and that they cure any issues using their title company?

This forces them to come over to your website and the site will do the work in encouraging them to sell you their house.

This could trigger the due on sale clause issues.If this is a friend of yours, you can't help unless he is willing to transfer an interest in title, there may not be any profit, tell him under the circumstances he needs to get a Realtor/PM.Not every house you find will be a deal, personal relationships don't set the stage to force a profitable situation, IMO, move on. :)

The plan would be to do a cash-out refi after forcing the value up on the property and then either hold it or sell it.  

2300 Sq ft TriplexList Price: $600 kUnit 1: 2 BR $1850/monthUnit 2: 2 BR $1600/monthUnit 3: 1 BR $1100/monthTotal Rent: $4550/monthGross Income: $54,600/yrGRM: 11Assuming taxes and maintenance are 1.5% of list, each, then Expenses: $16,000/yrNOI: $38,600/yrProperty Info:Units appear to have been recently renovated, so there doesn't look like there is much forced appreciation potential besides some landscaping opportunity or just rent increases.

If you purchase this home it seems that he will not only be upset at you for "kicking him out" but also upset at you for "forcing" his mother to sell his house.

I hate the idea of renting any more, and their credit is poor, which is why I am forced to think about using my own name to purchase the home.