As it is, we have the toaster and coffee maker on the dining room windowsill where there is a 2-prong outlet not on circuit 6; however, when I was blow drying my hair in the bathroom it tripped the circuit because the coffee maker in the dining room was also on and it's on same circuit as the outlet in bathroom (I have now switched to using a different outlet in the bathroom on circuit 10 to avoid this problem).

Well, everyone is going to have their own number, but if I were loaning you the money on this deal, assuming the ARV is strong and verifiable with real comps, I probably wouldn't do it for less than $15k profit on my end, especially since you have no skin in this deal.

Things are not always cut and dry nor do they run on any exact timeline when dealing with tenants.

HI, its hard to get less than 10-12% on your 1st deal, folks want a track record. if you put more down, you can usually get a discount as its less risky for the investor.( get friends/family to get you 10-25k so you can "have more skin in the game" and the investor usually appreciates that.also its your 1st, why not just BUY it in your name?

On the contrary, it has been explained to me by an IRS attorney who has handled related cases before that this is not true, that in reality the lender has no skin in this insurance claim and will simply expect you to pay the mortgage regardless of whether or not your property is intact.

What makes it great is it doesn't dry and leave residue like duct tape.

None of those projects have seemed to pan out and those projects have since dried up. 

Yeah well, from what I can tell Robert, that tax break comes from the skin of small-time investors who are looking to build income in small residential MF units in Providence

Agents with no skin in the game will often tell you what ever you want to hear so they can get their 3%.

The HMLs in my area still require the "risky" borrows have some skin in the game.