Might be a good idea to have a chat with your lawyer first thing in the morning.

Perhaps that particular bank can't do a 2 unit home on a 1 unit lot(R1) on their portfolio program.

We don't have a lot of money to put down, so our monthly payments will be $1300-1320 for mortgage, property tax, and all necessary insurance programs.

What I mean by that, is that I inquired with quite a few local banks what loan programs, rates, rules (overlays), etc they had in preparation for me buying several more rental houses around the beginning of last year.I really liked what Union Bank had to offer because they were a portfolio lender and could be more flexible with the number of loans allowed.

I took the first step yesterday by creating a LLC.I'm here on BiggerPockets looking to chat, meet, and network with like-minded individuals or experienced investors.

The First Look program is not new to Jan 2, 2014.

A couple thingsNot sure if NC has this, but in MI the utility companies have landlord programs.

@James Vermillion Thanks - glad to be back @Mark Ferguson Thanks @Charmaine Marizan Thanks, i see you're from Queens, maybe we chat at some point.Have a great day guys!!!!

This is just 1 cent of a hundred dollar program for you

Obama said the program will be expanded to 20 locations Nationwide during the next three years.