And, based on some really basic math: if that lifestyle costs $2mm/yr (the leased/financed G5, the FL and Malibu mansions, etc) and the typical core multifamily deal kicking off 4% cash on cash to LPs (if that), we could all have that lifestyle too.  

Hi all, I'm looking to buy an investment property in WA and wanted to get your thoughts regarding buyer agent's commission approach that I'm contemplating. Let's say the listed price for the property is $1.3MM, we thi...

Now, that said, let's give the contrary view, and why I wouldn't personally do that deal:-Limited appreciation potential for at least 3 years on this property based on location and demand, and no opportunity for forced appreciation-Risk with Section 8 on cap ex -I look for cash neutral on 15 to 20 year notes-positive cash flow of 144/month does not excite me, especially since I prefer appreciation potential -I avoid rentals that require more than $2000/month in rent to work given lack of demand at that price point in North AlabamaAgain, I ran this example just for educational purposes. 

And if you are dealing with a difficult seller, and a shady sellers realtor, you'll be the one screwed over.  

I would definitely shop more, neither of those deals make sense to me. 

They think every other deal they come across is priced $50,000 below market value2.

I also think I am dealing with August in general.... and as a northerner miscalculated the start of school in my head. 

Get a lender, enter into contract, close escrow, enjoy your new home. if you have less than 30 days, you would need the seller's cooperation to contact the foreclosing entity to see if they will postpone to give you time to close the deal. it's not guaranteed and the lender is under no obligation to do so but if everyone wins (seller sells, lender gets paid off in full, you get a home), most lenders will provide a small window of time to get it done.

I am not a tax/legal expert, but as an underwriter on DSCR deals, I have seen many entity structures. 

If you properly notified the owner prior to that date and then they died after you took ownership, then you do not have to deal with their heirs.