As many of you are aware, if you own a building in your own name, 1-4 units, you can often get great "FNMA type" financing where you get a decent interest rate, lower DP, and literally locked in with no rate changes for 30 years.

Tenants will often fight to stay in a space they know is a great value that is hard to find elsewhere.

The comps for most of them don't seem to support the purchase price and they often still need some upgrades.

I'm in the Brier Creek area of Raleigh very near to Durham and I'm often at Caribou in the morning, so  let me know if you ever want to stop by and talk about real estate over coffee one day.

So many times I'm sent a deal to save and come up to a train wreck caused by some other Mortgage Broker or Lender LO who can't think outside the box and/or don't have the loan programs I can offerAnyway, often, the obvious and quick fix is for the seller to hold a purchase money 2nd mtg.If it's for a strong, good credit borrower and they are willing to pay Top Dollar for the property, why not offer the seller a 10% return on that small amount of money on a 30/60?

Not too often do I read about personal experiences re-selling turnkey, so I value your post immensely.Could you provide details on how you sold your turnkey property?

But the upside is that they are often more organized with financials etc. 

There's a ton of information but always remember that free advice is often worth what you paid for it.

Once you include HOA costs, condos often/usually don't show a positive cash flow, once fully leveraged.Have you already found a Lender who will loan you 80% ARV for an investment condo?

I run into this scenario more often than not so I just get the property under contract (which may or may not be valid) with the suspected heir and then let the title company tell me what they need to insure title.