Nevertheless, I see that properties in the areas I'm looking for being sold that fall within my criteria every single day.Moreover, a few properties got under contract before my realtor was able to reach out to the selling parties.

I am a residential investor located in Edmonton, Alberta Canada and I am trying to explore options for third party financing.

To make a long story short, I am using my rental income to purchase a new home that we will be living in and was prequalified with no issues (mortgage company hired third party firm to look at my rental income and returns to qualify my income, I gave them every document on earth, leases, taxes, insurance, mortgages, etc...) and then underwriting says no due to the fact that the last 2 years of tax returns (2017, 2018) I reinvested all my money into my rentals and they are deducting all that out of my income, ie. depreciation, capital improvements, supplies, repairs, utilities, maintenance etc... 

Tax: This won't be tied to estate of any party in the deal.

They might, but have no duty to do so as both parties know the senior survives.I can state with certainty that's how it would play out in California.

I think the more important part is knowing your numbers such as ARV's and a general ballpark rehab number. 

Because Charleston is a vacation and wedding destination, we've seen a lot of properties turned into party houses, which the neighbors hate.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

He's in his 80s. b) He is considering trying to convert it into a rental but as I mentioned, the house has a *ton* of deferred maintenance (inside and out), meaning that it is extremely unlikely he could actually rent it to a 3rd party (which is what he thinks he could do). c) Also, he's "house-rich" but "cash-poor".