Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

Relatively small amounts of interest income ($1600+ per year) is the highest taxed form of income I have found if you have kids at home.After earning a few grand in interest, It takes away my child tax credits and gives me an effective tax rate of 70%.   

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.

Umbrella Policies are good, but they are not an asset protection tool, they only cover litigation/damages after you’re already in litigation or found personally liable.

There are many ways to attempt to collect your loss:  file a small claims complaint against them; get a judgement so you can garnish future wages/bank accounts - and the judgement will be recorded in the credit bureau. 

Am I getting greedy to ask for an additional seller credit at closing to help offset some of repairs needed?

WE dont pay a fee for the credit line as I mentioned just 1/2 point for each new loan..

I don't think he would allow someone that had to put the fee on a credit card.

Once you start processing the credit/criminal, the money is spent, and you can't get it back.

After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.