Obviously things had to go right for this guy (the market worked in his favor), but even if it didn’t, if you work it right (the FHA and 203k loans at clutch), you could end up in a very nice place for very little down and no PMI.

Alex - most mortgage lenders will understand what you are trying to do and will request 2 years of financials showing your rents covering your mortgage to show that you have a favorable debt-to-income ratio.

If you don't trust yourself, why trust a bunch of strangers on a forum.And, please do yourself and everyone else a favor: never make an offer unless you want to do the deal.

I was in Florida & had no idea what to do for her.So at 4am I called a fellow investor (cashed in a favor) who also happened to be a volunteer fireman & they eventually pumped the homes out.

Then check your local rules, as some cities favor tenants' rights and their housing laws reflect this.

It seems like the price:rent ratio is more favorable (I can't buy a duplex in a 50 miles radius for less than 500k and it rents for 3k total)Which lender has been your favorite to work with?

I wonder why they would request that.I've seen it since I've listed properties and got an offer that looked good, but was so p***-poor written that a 10 page long counter wasn't worth it.I've also had some listings (usually large) where the seller has his own lawyer draft the PSA after a LOI is submitted.Realize whoever writes the PSA tends to favor their interests.

I know the buyer personally which is why I posted here on BP as a favor to him.

It's easy to stalk people these days, then get them on the phone and hear their perspective.Though it's different from what you're used to, I think you'll find the greater tax advantages and economies of scale favorable with large MF. 

They will have not as favorable terms but you could get the deal done.