As a Realtor selling luxury homes and working with investors, I'd love to connect.

So we are looking at purchasing a home (new primary residence) but we will be leasing back to the current owner for 120-150 days as the current build they are working on is being finished.I was told if I apply for a mortgage and disclose that it will not be my primary residence outside of 60 days from the point of contract that it will require a larger down payment and a higher interest rate.

Here in San Antonio we are perfecting systems for doing un-accompanied (no agent present), vacant home showings.  

I'm Devin Coleman from western NC, Im looking to get my feet wet in the game and get me a home to flip.

But since J properties generally depreciate over time (not like properties back home which appreciate), the idea of sinking cash into a property that is worth less five years from now is not terribly appealing.Like you say, then the question is what sort of yield can you get, and will it cover the deprication losses?

See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

I totally agree the nursing home placement agent would want to vet the buyer.

You need someone like James Wise to chime in on this for management tips, if he has 2 seconds to spare. 

The home is in a good location - 3 blocks from the up and coming revitalized "downtown square" with boutique shops, cute restaurants, coffee shops.

Imma add this to my list of reads......I was just on a IG page of a guy that was basically showing you how to replat to increase the value of the land.