also has a good suggestion regarding asking for the specific guidelines the lender is using.

From the fha guidelines, "The table below describes the exception situations in which FHA does notobject to borrowers obtaining multiple FHA-insured mortgages.Note: To determine the eligibility of a borrower for one of the exceptions inthe table below, the underwriter must consider the· length of time the previous property was owned by the borrower, and· circumstances that compel the borrower to purchase another residence withan FHA-insured mortgage.Important: In all cases other than those listed below, the borrower is noteligible to acquire another FHA-insured mortgage until he/she has either· paid off the FHA-insured mortgage on the previous residence, or· terminated ownership of that residence."

If landlord pays utility (especially water, gas, heat) go 60% costs.So for example if you had 100,000 gross income X .50 = 50,000 NOI and if 60% costs go .40 = 40,000 NOIYou take NOI divided by the sales price to get the cap rate.40,000 NOI / 340,000 purchase = 12 capThis is a just a general guideline and much more goes into this.

There are IRS guidelines for different loan lengths for minimum interest that must e applied or else it is considered a gift and will be taxed as such.

I'd like to have the option of selling this investment condo in 2-5 yr time frame if I need to.Also another thing, this is a non-warranted condo, 1/5 units is owner-occupied so it doesn't fall under Fannie Mae guidelines and will be held under a bank held portfolio loan, if I get a mortgage loan for purchase.

Lots of lenders are starting to offer loan products that do not require a property to meet Fannie/Freddie guidelines.

@Georges ArnaoutAs was discussed in this week's podcast, different banks will have different guidelines about how many loans they'll give.

This fits my budget but there is one major problem.The HOA is under some pending lawsuits and the association does not seem to meet the guidelines for any conv or FHA financing.I have spoken with the listing agent and he stated that the seller would be willing to carry $100k for 3yrs.My questions:1) what happens if the lawsuits continue with the HOA2) how would I go about finding info on the issues the association is facing3) Is this something to steer clear ofThe last thing I want to do is back myself into a corner where I am unable to get out or worse, lose money.any and all advise is greatly appreciated!

If I were you I would figure out what the commercial banks lending guidelines are and pre plan my exit strategies on how I could refinance out or sell or option the property out just so you'll know the strategies going in.Most commercial lenders want a min loan amount of 500k or higher since it takes them the same about of due dilligence work to originate a 500k note as a 2,000,000 note in terms of human hours and work.There are some local lenders or niche lenders who might be able to entertain a loan on 540 value 9 unit property perhaps at a lower LTV.To address your question about the terms of seller financing, I would first determine your desired rate of return on your capital of $135,000 down payment.Since we know the NOI is currently 33,424 the difference between this and your annual mortgage payments will be your annual cash flow so first determine what that might be and then you'll have a position to negotiate from.I would then add a margin of error to my desired number because during negotiations you might have to lose some ground to come to an agreement.Hope that helps.

At that point the guidelines are to tarp off the area and contain the spread of lead materials.One of the nice things about removal and replacement is that once the material is completely gone, there's no real disclosure issue.