@Kenneth Bedwell,Any market where properties are NOT selling conventionally (with a Realtor) is potentially a great opportunity for lease purchases. 

I'm guessing his reference to a commercial bank was simply a choice of wording for conventional lender.I agree with your position on using variable rate financing - particularly now where lender have build a generous hedge into their fixed rate products.  

The casino/hotel industry has really pushed into the convention industry more than gaming for some time now as a means to diversify.  

Just from 10000 feet it looks like your gain will be just about what it was from the sale of the first property minus the $3K of loss your taking on this sale.The convention is that holding periods are tacked together when determining tax status. 

Did you pay cash, conventional, or FHA?

My goal is to buy it with conventional financing, repair it to be rent ready, and hire a property manager to rent it out.If you could recommend an investor friendly real estate agent, I would highly appreciate it!

As a way to improve my deal finding skills I thought I could find deals in different markets, advertise it, and then if purchased because of me charge a finders fee.

We just sold our first home for a happy profit, and we are trying to do our first hack by buying a Duplex to live in for a year with a 5% down conventional loan. 

Hello,I'm looking for some advice on the impact getting married will have on my/our ability to qualify for conventional financing.

What does a rental car company charge?