It's minimal- $300 per year.

Would I still qualify for Delayed Financing Exemption?  

There may be restrictions regarding it being rented out, they may require it to remain owner-occupied.Please note that none of my comments are meant to minimize the comments made by Jay or Lisa.  

@Mark Nolan My apologies for the delayed response, but thank you for your comment!

It could save you some effort later during the delayed financing since that would require a title search to very there aren't any liens.

He could benefit from not worrying about unloading a property he doesn't want, gets all the money he's asking for (eventually), and I get the cash flow with minimal expense to get in the deal.With respect to offering my co-worker more, I'm only considering it if it appraises for more.  

. : )I have friends that simply invest in sponsor deals and look at a spreadsheet once each month.There are tasks they have to do relative to watching over their investments but they are very minimal  in nature and easily scale able. 

It seems that every flipper entering the market  wants to start out at the lowest point to help minimize their risk.

My goal is to pay as minimal as I can for a down payment (and little or nothing for rehab/holding costs) on a rental.

This allows for you to easily replace a contractor with minimal loss, should any unresolvable issues arise.2) Write a 48 hour fix and repair clause into your contract.