That being said, if you are looking to invest in some of the older properties you better take a hard look at CapX as any major repair will take a big chunk out of your cash flow.  

There could be interest only years within those terms or it can be a hybrid product as you mentioned. 

It may be worth it though, I actually used to rent an apartment right around the corner from this place, it was in a four unit building that’s as almost always at full occupancy, as far as I remember the entire 2 years I lived there only one apartment was ever vacant and it was rented in about a months time.I found a 3bd 2ba MH on my local Craigslist that seems to need minimal work, the previous owners did major updating, asphalt roof was replaced about  7 years ago, new furnace, new floors and paint.

(This would be a nice product to maintain for everyone's use BTW...:) )

Basit Siddiqi Not necessarily...This law will force Airbnb to provide names and address of Airbnb hosts to city..From what I read this might give a reason for the city to inspect a Property of an Airbnb host.If I’m a host I don’t want to give city any reason to inspect my property.If host is living in Property and doing Airbnb legally in upstairs apt he might be ok but if he converted his basement to be an apt he will get fine from what I understand..I don’t invest in NYC but I know many who are hosts for Airbnb, I would be reluctant to host if I can be scrutinized by the city..This is a major win for Hotel industry...

Hi Dan - I had never heard of this mortgage product - thanks for the tip.

There are many predictions that blue collar and white collar are on the verge of a major flip and it’s just obvious by numbers.

I do see the value in being able to use FHA financing to acquire and potentially fix cover your rehab costs but based on the necessary repairs I would ask for either a significant reduction, the current owner to complete all major repairs, or just move on. 

"Like kind" is defined as any real property that has been purchased with then intent of holding for productive use in business, trade or for investment. 

Currently, I am enrolled in Wichita State University and am majoring in Industrial Engineering.