Even then, the math doesn't really work, though - if they were only loaning $105,000, you would still have to come out of pocket another $15k.

Please explain your reasoning ;-) Disclaimer: I typed this out quickly so I may have fudged the math somewhere.

Without real values offers are tough, but let's use $200k for grins to make the math easy.

Bill's math is a bit off - I see only ~145 more to go.

Dee,There are much smarter people on this forum that will probably chime in, but I see several problems with your math.

You'd need to do your homework (condition of property, current occupancy, etc.) to ensure things look good to proceed. #3.

Also, let me know what you guys think about my math for estimating what I could pay per month.

So using this math, a 150k property that rented for 1900/month would be no better or worse than a 173.5k property that rented for 2200/month.

One way around the picture issue, have the owner tell the tenant you are with the insurance company and you need a couple of pictures to verify the property for insurance purposes...or some other story along those lines.As long as I've done all the necessary homework, I probably wouldn't be too skeptical just because the seller was a little weird.However, it may be difficult for you to wholesale it without you closing on it first and getting the seller out of the picture completely.

It's a quick way to determine whether to dig deeper or pass.I haven't done any of the math, but it looks like these come close to meeting that 2% rule, so they might turn out to be worth looking at more closely.