As for rehabbing, that 10,000, 20,000, 25,000 - that's one of the dumbest rules I've ever heard!!!

The lease part of the transaction should be identical to how you would do a straight rental, including the security deposit.

Welcome to the site, but please heed Jon's warnings and review the forum rules.

If so, I am not sure if the same rules apply since the property is owned by the bank.

Trust me, if you start reading the SEC rules on this stuff you will quickly find out that most EVERYTHING is against 'policy'.

Just be sure to buy EVERY property at a HUGE discount to market value even though you are paying cash and be sure that each property will cash flow using real world expense numbers (the 50% rule).

And follow the three click rule.

It's funny how we apply this rule to direct mail and forget it when creating the image of our business.

If you purchased for cash and there was no lien then this rule would apply.

So I guess forgetting the "dollar analysis" or "50% rule" to me it looks workable.