We usually set a closing date 6 months out with a clause that allows us to close on or before that.

I am looking at properties in several neighborhoods, usually zoned RS-3, often with lot sizes of 2400 sq ft. 

The fact that they are pushing you to decide by tonight shows their fear of having you find out whatever extra problem is present.

However, I usually keep depreciation off the balance sheet until I can see the tax return and I go back and add it for the previous year.

They are usually happy to talk about things like this, remember that they are there to write loans, they WANT you to be able to borrow from them.Don't be distracted by what others are doing or get stressed about keeping up with them.

@Akinbowale AjiboyeMost lenders will not lend in second position, and the ones that do are usually going to require a much higher return than 2%-5%.

Many of the lenders will not even allow us to say power of sale anywhere on the listing yet when owned by a bank or trust company then it is usually a power of sale and they usually sell for less due to poor condition of the home. 

With I&P Payments x DSCR (1.25(what banks will loan at a minimum on usually)) and that will give you the minimum NOI the property will need to achieve for you to make a return based on basic lending rules.

32209 is definitely not the greatest area of Jax, but one of the best for cash flow, and that's usually how it goes.

Sometimes they have none, but usually they don't like to go below 6 months due to how loans are bought and sold on the secondary market with traditional lendersFor Cash-outs, due to risk and appraisal issues, they don't like to go below 1 year seasoning period.