You should definitely have a bank lined up that will at least APPEAR willing to lend to you at the 6 mths to one year mark.

@MARK F.  

It's the wholesalers who think they can go on craigslist or the mls and mark up a property and hope an investor will buy it from them.

It's not a rule, it's a metric to measure whether there is a deal that fits your strategy or not. 2% is generally attained on properties closer to the $50,000 mark, renting for $1000 a month.To be stuck to a 'rule' is silly, see the idea for what it's worth, an idea.

@Roy N.If you mean the dark mark on the left side of the exterior shot, I believe that is a fireplace on a different property.

We have a flat percentage that we mark up all maintenance jobs.

@Mark Ancerewicz I think you have good goals and having an actual budget getting started has you in a better spot than a lot of people.I'd caution you on expecting that high of a response rate.

The borrower will just not get 'credit' for any net profit they make until the two year mark has passed and documented.

Mark

Mark, thanks- and yes, I'm trying to find a healthy balance between showing respect and also showing them the benefits of working with me.