What can cause an issue is if your current employment includes variable income, such as commission, overtime and bonuses that you are using to qualify for the mortgage.

I like that you included syndicated and trusts.

Most well drafted purchase agreements will include language that can call a default on the purchaser for misrepresentation so be mindful of how you represent yourself when submitting offers. 

Henry,They said, it was removed because I included my/our website (contact info) on the post!

The presence of distressed properties, including foreclosures, provides opportunities for investment at potentially lower costs, appealing to those interested in refurbishment and resale or rental.

Bought for $157,100.38 *** ***  ARV $245,000.00 5 bed 3 bath – Phoenix AZThese are the numbers from the HUD statement Bought for $157,100.38 *** * ARV $245,000.00 Existing Loan Amt Payoff $118,145.37 * Subject To $118,145.37 **** Closing Costs From HUD Title $1,045.00 Escrow $1,400.00 County Taxes $538.38 Recording Fee $120.00 Cash to seller $10,000.00 Misc other charges $525.00 Total Amount Due $ $13,628.38 *** Arrears To Bring Account Due Total Number of Missed Payments: 11 Total Payment Amount $10,095.47 Unpaid Late Charges $146.84 Additional Amounts: Foreclosure Fee/Cost $354.19 Unpaid Advance Bal $1,101.75 Total Amount Due $ $11,698.25 *** FHA Loan Mod 2nd $11,582.44 *** My Out of Pocket $36,909.07 *** Total Cost Basis of Purchase $155,054.44 ARV (After Repair Value) $245,000.00 Repairs Post Purchase $ 5,000.00 +/- Unrealized Profit $84,945.56 *** Equity (ARV minus Subject To payoff) $126,854.63 *** I strongly recommend having 3 months reserves as follows: Monthly Mortgage $917.77 (Taxes included) Electric Monthly $362.21 Water & Sewer Monthly $102.80 HOA – None $0 Reserves3 months mortgage payments @ $917.77 per month = $2,753.313 months Electric payments @ $362.21 per month = $1,086.633 months Water payments @ $102.80 per month = $ 308.40                                                            Minmum Reserves Total $4,148.34Then I turned around and sold it on a Lease Option for $265,000 getting $20,000 down on a nonrefundable Option fee, and rent of $1,900 a month. *** My Out of Pocket      $36,909.07 Option Fee To Me      $20,000.00 My Adjusted Out of Pocket        $16,909.07 ****** My Cash Flow  *  $ 982.00 monthly **So, I sold it for $20,000 more than street value, I get tax write offs, I got $20,000 back immediately as an Option fee, I cash flow at $982.00 a month and if they exercise their Option, I’ll get $146,854.63 (minus the $20,000 Option fee) equals $126,854.63 cash along with any pay down during their Option period.

In December, we were converting mls listings that had 100+ days on market (mostly estates/inherited homes) So far all we have wholesaled; including the mls listings. 

Be mindful of including lease duration, whether utilities are included or not, and how maintenance requests are handled as well. 

I invest in Northeast Ohio and switched to a great CPA firm two years ago that not only has great experience with rental real estate, but also a fiduciary and has been extremely helpful in positioning us for future retirement, including social security.If you would like their contact information, please message me. 

The [2019 Tax Assessment notice] also had some interesting information, including the owner name and mailing address.