The disclosures you're accustom too in consumer financing don't apply in commercial, commercial borrowers are seen as business people and capable of running their business, knowing or finding out what expenses they will have.

Do I find a deal, run the numbers, and put together a business plan before going to the lender trying to get a loan?

The $200 cash may motivate them to move out so you will not have to go through eviction proceedings, which will cost you more in the long run.

@Rome Xu You need to run your numbers and present some analysis to a lender.

Short answer, we bought at a price somewhere between actual value based on actual numbers and what it would be worth when run by a reasonable operator.  

By mailing 1000's of cards / month and running the call backs through a Virtual Assistant system.  

The house has been vacant in this time and is becoming run down.

When looking for a good buyers agent make sure they can work at the speed your clients will need them to work at ... that is why I got my license because I was tired of losing deals because I was waiting to either get in a property or to get the data I needed to run my numbers.

Hey Bigger Pockets friends, my name is Ray & I’m a SoCal native running a technology 3D printing/3D printer eCommerce company, EEZITEC, based in Los Angeles, California.

Keep in mind this 8% PM part is best case scenario. 14% is likely more realistic long run with lease up fees and service calls.