There is a minimum bid announced before the auction here, so that eliminates the real need for any sort of bidding war OR a bank rep.

And the good tenants will be resentful that the bad tenants get away with it.It appears you don't have other units, so this may not apply to you, but I assure you that it applies to the larger community of landlords, and the more you let tenants get away with, the worse for all landlords in general.

Well, let's say an agreement is reached to transfer the home via some sort of owner financing.How about a second signed agreement that states:"Just in case, because of regulatory or other reasons, a "more traditional type of sale" is required to transfer said property.

No banks want to loan money and hard money lenders only want to lend larger amounts than I need.

Its zoned residential and there are 6 separate units but not all of them have there own kitchen some have sort of a kitchenette.

Thank you for the "real world" look at what comes to view these sort of properties so others may ask themselves, "Is this the class of clientele I desire to do business with."

I think the growing demographic of older Americans, empty nesters and other individuals and couples would be thrilled to not have to rent, share space, or pay larger utility bills and maintain a space larger than needed.

Find a good broker who is knowledgeable about the FHA guidelines and works with a lot of different banks; often, it's the regional and more local banks who are willing to do the under-90 day flip financing.In terms of larger banks, some Wells Fargo loan originators can get this done and some Flagstar underwriters will do it as well.

CostSeg is best with larger properties.

Nope. 50% is the long term average... accounts for things like having to paint the exterior every now and again, the occasional septic issue, replacing a room every few decades... those sorts of things are big expenses and don't show up in year to year reports.