My age always gets me funny looks and questions like ," are you renting this house or the landlord?"

It turned out he was also involved  in a storage unit building with small 3'x5' lockers renting for $100/m.... and those were included in his "unit" count. 

Generally most places offer 100% of one month rent.

First I was told that the unit was listed as for sale and that Zillow does not allow a for sale and a for rent listing for the same address.

The loan is qualified based on the actual or market rents of the property determined by a lease or appraisal.

As has been mentioned already, it takes too long to get the item repaired, jeopardizing rents.

Get a house over a condo if you can.I've been looking at a beach house to rent in Myrtle Beach and they are pricely and calenders look pretty full.

The same tenant is still in it and has paid over $70,000 in rent and the property appraised at $105,000 this year.

His current monthly Payment Breakdown:- Principal: $314.66- Interest (3.875% rate): $578.779- Escrow: $700.79-TOTAL monthly payment: $1,594.24Estimated rental income: $1.2k - $1.6k per month.Would love to somehow capitalize on the existing fixed rate, but at his current monthly payment and the estimated rent it doesn't seem like a great opportunity for cash flow.

The way I heard it explained is that you take over the existing mortgage and then you can either rent it or transfer the mortgage to someone for free but the videos I’ve watched never say anything about giving the seller anything other than money down to lock it up.