unknownBuyer's Possible 97LTV Loan Restructured: ($427k w/ $13k down)It is my understanding if the buyer had committed to a new loan application with a loan amount less than $427k, prior to the appraisal coming in, she could not have obtained a loan denial from the lender in good faith.

@Justin Pera, I am a licensed lender here in Florida.When obtaining a multi-family 3-4 unit with an FHA loan, all units rents, to include the one you’ll be living in, must be multiplied by .75% and cannot be less than your total monthly mortgage payment.

Obtaining a variance can be very tricky and I would suggest working with a zoning attorney.

I went back to school 9 years ago to obtain my first BS degree (interior design).

I would recommend Philadelphia Pennsylvania.Large city catering diverse economic base.Low inventory (that translates into strong rental and home buying demand.)Many investors from California NY and elsewhere are already finding good profitable deals here both buy and hold as well as flips.Property that is available at 50k and with renovations from 15k (cosmetic play) to 50k (full renovations)are obtainable with persistence.

I found the tenant screening website www.mysmartmove.com , has anybody used this site for running screens on future tenants and have any good or bad feedback because i'm in the process of hopefully (fingers crossed) obtaining my first rental.

I mean, you obtain the property free and clear and you're hoping to break even on it?

The owners can hold out because (1) they are collecting positive cash flow on their investment and (2) their interest rates on loans they were able to obtain are at historic lows.

The best prices can often be obtained during winter.

Keep finding deals and unable to obtain financing.