A lot of subdivisions around Morgan State have those, and they have very strict guidelines for outside remodeling projects that need prior approval, specific colors and styles of roofing, windows and paint.Good luck!

It is not a TON of cash flow for $11,000 invested, but it you've accounted for all the expenses you should have on your radar, and still come out + which is good.I'm sure you've read it here, but a lot of BP'ers use the 2% rule as a rough guideline to determining if a rental property makes sense.

The less you put down the more cash on cash return you will have for yourself.Regarding loans 2 to 4 units fall under RESPA guidelines.

@Justin, I wish they would publish a book on the "rules of the blame game" regarding the mortgage industry; It was/is the economy, to easy to obtain a mortgage, to hard to obtain a mortgage, credit scores to high, credit scores to low, no money down, 20% down, underwriting guide lines to stringent, to loose, appraisals becoming parat of a management group, working as independant contractors, no doc mortgages, endless documentation, it was the mortgage brokers, it was the banks, it was Wall Street, loan originators being paid to much/to little and the finger pointing goes on.

Stocks are a gamble but property is real.

Based on the information you provided, I show PITI of $927/mo, of which $644/mo is principal and interest.Using 50% rule, you would make approximately $56/month cash flow.Using 2% rule guideline, you're at only approximately 1.05%.These are both guidelines, of course, but the numbers look quite weak.

There are no fees involved in setting this up, and it is more of a guideline internally for the bank with my LLC.The guidance line is for a pre determined amount of mortgages, initially it will be something in the $150k-$200k range to get started and can be increased over time as we build a relationship.They way it will work is, there will be a pre determined set of criteria I have to meet with each property.

A company interested in hiring my company for board ups, cleanouts and all that fun stuff says i need to become familiar with HUD guidelines first.Where can I learn these from?

Approach other banks (start with local banks or credit unions - they might be more flexible with their underwriting guidelines)3.

It seems for my limited knowledge that landlords are supplying washer and dryer, seems no AC would be ok, I think I would definitely need to provide refrigerator and range, not sure if I should include a washer and dryer, I can include and I do repairs, I can include it and put it in the contract that tenant is responsible for repairs or I can do a maintenance plan with the local electrical/gas company to cover the appliances (about $25/month) and I can cover that or I can gamble and make the renter pay for it.Ideas/experiences?