What is your required rate of return?

As a contingency of sale we required this unit to be vacated.

Even though it may require more work overall, it is incredible that a single investment can create enough income to retire.

There are some lenders that can allow these hard money without experience or without having you as the guarantor (but requires you to be in the deal).

Some cities or counties may require that though.

To protect the purchaser of the wrap-around mortgage, Texas Senate HB 43:provides for wrap payments to be held in a constructive trust by the seller for the benefit of the buyerestablishes that anyone collecting or receiving a payment from a wrap borrower in connection to a wrap mortgage owes a fiduciary duty to the borrower for the paymentsdiscloses the nature and risks of wrap transactions to buyers and offer consumers the right to rescind transaction/agreement when disclosures are not made timelydefines “wrap mortgage loans” as a residential mortgage loan:made to finance the purchase of residential real estate that will continue to be subject to an unreleased lien that attached to the property before the loan was madesecures debt incurred by a person other than the wrap borrower that was not paid off at the time the loan was madeobligates the wrap borrower to the wrap lender for payment of debt, the principal amount of which includes the outstanding balance of the debt and any remaining amount of the purchase price financed by the wrap lenderclarifies that a wrap mortgage loan may only be closed by an attorney or title companyprevents “house flippers” from registering as financial service providersprohibits a person from making wrap mortgage loans unless the person is licensed or registered to originate or make residential mortgage loansThe new law goes into effect on January 1, 2022.

(this is called reserves) On a 300k price 15% is 45,000 but you would need closing costs and the required reserves for your particular situation as mentioned above. 

This area is really in need of affordable housing, but with the large down payment requirement it rules out this option for many.

Yes, they ask for Rent Rolls, Bank Account balances, etc.

She refuses to do so, bc he has legal issues and want qualify and meet the lease requirements.