I've spent the last 15+ years in the corporate world, specifically selling large medical capital equipment, start-ups and new product launches.

She also would not be able to pay for food, clothing, transportation, medical, recreation, childcare needs, etc.Instead of considering only the tenant's portion, I would prefer to keep my income requirements the same for all tenants, regardless of their source of income.

I have been a number one medical device sales rep for over 10 years with multiple President's Club wins and would like to duplicate that success in real estate investing.

My husband got into Harvard Medical for residency.

````````````````````````````````````````````````````````````Garn St Germaine(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

It took the seller over 2 weeks to respond to our short sale offer this summer - he was living in a different state and dealing with medical issues, hence the short sale.

Also, although I do not have much of an income now, I will be finishing my medical residency in less than a year and my income will increase substantially.

The old model of accumulating credits monthly rewarded delay and stretching exercising out to expiration.I've never operated in NJ, so don't  have any state-specific tips.  

Once you have an option to purchase the property, the seller can't sell the property to anyone else and if you chose to exercise the option the seller must sell it to you.The option should include a predetermined purchase price as well as a time period that it is valid.The buyer usually pays for the option, so consider the amount you would pay for the option and reduce the purchase price accordingly. 

I thought it might be a good exercise to measure annual real estate tax as a percentage of annual gross rents.