There are circumstances you can take money out such as education, hardship and purchasing a house (not sure if investments count).

I don't use my box for marketing so it never crossed my mind.

@Brian Gibbons has done a ton of SLO's, whereas I am mostly the LO Assignment guy, but Brian and I both agree that you need to have reserves in place if you are going to be doing a sub-2 and/or SLO.Also, don't forget closing costs, and the contract has to state who's paying for what.You also want to do a title search on the house before you take it sub-2, as it screws the buyer if it has other liens on it.Also...to be honest..I wouldn't count the option fee in the "equity" category.If he doesn't purchase you haven't just added equity..you spent the $5k going on vacation as soon as you got it!

., you have to count that as income, just like income from a job.So, separate from the 3x rent as income issue, can you also have a requirement that the prospective tenant must be employed or work in some way (self-employed, etc.)?

*Also, I just cross referenced CAD with name and physical address and ran a search.

You can count on 6 to 8 months of extra time with the process and numerous stupid request.

I look forward to crossing paths and sharing ideas!

Don't count on 90 days from closing to closing.

Glad to meet you and maybe we'll even cross paths sometime in future!

By my analysis that is a 25%+ cash on cash return, assuming the total cost of buying it and renovating it (count vacancy) is 200K, you put 25% down and you get a 5% interest rate.