Banks can do this because they have millions out and they support the community but private for profit small lenders no way they can do these and keep the rates the same as when they are doing 300k loans at 2 pionts and bringing in 6k in fee's plus junk fees.. its the exact same time effort and paper work to do a 50k loan as a 300k loan or a 1 mil loan. or a 15k loan.  

A first position lender (the one that provides 75% loan) would not likely loan you money if you don't have "skin in the game", i.e. down-payment.

---So, insist on them providing the rental application and supporting docs for your review.

If you are looking to sell to the end investor make sure you can defend and provide data to support your evaluations. 

*One unit will be occupied by me*The current deal(s) I have negotiated -Purchase Price: $518kCredits: $7k credit for closing costs (from owner)Financing: 3.5% down ($18.1k down)orPurchase Price: $539kCredits: $7k credit for closing costs (from owner) and $21k credit to my pocket (cashiers check).Financing: 3.5% down ($18.9k down)Essentially, I get my down payment back and have no skin in the game.

I appreciate the welcome and support from the community.

Our goal is to rent your vacant property as efficiently as possible, which requires us to balance how long a property is vacant, rent amount and tenant quality.Screening ApplicantsPoor screening often results in lost rents, legal & court costs and costly damages.Screening of applicants includes the following:Full credit/eviction/criminal checks are done, instead of score-driven reportsVerification of rental history includes validation of actual property owner to avoid fraudVerification of stability of income & employment via YTD paystubs & W-2(s) (analyzed to confirm not fakes)Income is calculated 3 ways to spot stability anomalies: pay period, YTD average and YTD + W-2 average.Debt-to-income analysis (more accurate than traditional 3x rent requirement)Bank statement to see if NSF issues, if deposits support income, prove MoveIn Funds, also analyzed for unusual transactions.Pet screeningHolding Fee required from approved applicants to make sure they are serious, before your property is marked pending.

If you borrow 100% of the purchase price, you have no skin in the game and it's easy to walk away.

Current comps support value of $125k.

I find them to be really helpful in the support, accountability, and you get to learn from each other.