So be prepared for that one.

My knowledge is derived from advising clients about these deals and also preparing the tax returns at the sponsor level as well.  

You need to factor for advertising, lease signing, background/credit checks, etc.

At least the seller let you know and you could be prepared! 

Other thing to remember too is, as a college kid who did a spring break in Myrtle beach, be prepared for some damages.

I'm in the process of evaluating a low income housing tax credit property for potential investment. 

Elements Financial, KeyBank, Energy Plus Credit Union.

You prepare your own contracts.

Part of the impact is my credit was shot and I am rebuilding it.

Depending on what type of underwriting method a Mortgage Broker found most suitable for your scenario + your credit score, you could get slightly lower interest rate although 6% is a good number to plug in to be conservative.