It starts with the seller submitting a financial statement, letter of hardship, and a complete short sale package.

In most cases I can rent out the dock seperately so that may work some.I'd love to own the boat, keep it in the condo sliap and rent it out as to non-boat owners as a package.

I bought a large package of rentals from an elderly couple that has been much more profitable.

I mean, if I know how to process and package a FNMA loan, then I dont need to involve 3rd party to process it for me right?

I was thinking that $3,000 per month would be sufficient to pay for rent, utilities and food?

Turns out they just got an offer and was sending the package to the bank today.

That is why people build their own custom models instead of using Argus or other packages with canned functionality.

I'll keep them in mind (Food for thought.)Thanks again !

Do not own any property currently.I might be buying a franchise restaurant that cash flows 60,000 a year after expenses.I can pick up for about 65,000 with 30k down and 35k owner finance at 5% with a 2 year balloon.Buildouts when these were new are from 200,000 to 310,000.There is absolutely money to be made in the restaurant business.I have over 10 years in the business from managing to owning before getting into real estate.The key is to have a national franchise to have fixed contracts to have controlled food costs from suppliers regardless of food prices.

Today I was there with the mold specialist and we found food remnants and some drug paraphernalia.House is owned by a mega-bank and my agent is trying to get in touch w/ asset manager/listing agent to have them call the police, etc...This house is a good deal & I don't want to back out just because of this.