The basic numbers look great.Mike

What might be insured is between the insurance carrier and the lender.Considerations are vast, the local economy, the project, management, financials, timing of the project to completion, basically all areas that a lender will consider.As to sub-prime, never heard of it, as coverage is generally afforded to strong borrowers, developers that are entering a project at a higher LTV initially and the LTV is reduced as a project comes to completion, the initial risk.Apartments or properties held long term can be insured but again usually to cover the LTV risk, that is risk enough and to add sub-prime credit, management, or low debt coverage issues really isn't an insurable risk.

They are ready to start calling on accounts when they don't even know how to read a rate card,,they want to go see people, you have to hold them back a little so they have the basics down,,they want to start selling.The sales reps in #1 have little chance for success,,they confuse activity with accomplishment.

The current mortgage is $168k and the amount owed is $164k, so basically I would assume the mortgage for $4k.

We use a local handyman in Northern AZ that runs all simple tasks like a clogged drain and would bill the tenant. 

Which is basically what I have done.

The things I have read before this site seem more basic information with no real instructions or guidelines.

But its possible it could have changed.Glad you found this @marion edwards because when i tried telling people about the Homepath financing for investment properties, people basically told me I didnt know what i was talking about.

Depending on your experience level though it might make sense to flip 2-3 houses first to understand how to deal with contractors, lawyers, lenders, agents, etc when the stakes are lower.Even though apartments are commercial properties, getting some of the basics under your belt will result in 2 key benefits:You will have a good idea of estimates for normal repairs to the units and can better understand what properties will take once you purchase them to bring them up to your desired standard for the area.Your potential investors might have more faith in your performance if you have some other investing experience under your belt - might even want to consider getting 1-2 rentals to help with this "resume building" if you are going for a number of investors that may not have personal knowledge of your capabilities. .

Worked like a charm.I understand that wall paper removers charge a lot of money for this pleasant task:)