(I have removed the rest of this paragraph giving a full explaination).I do however totally agree that there is a lot for me to learn and this forum is a great resource for information.I have removed the rest of this paragraph in order to avoid breaking any rules or causing offence.

Not too big a deal, but severe penalties if you don't follow the rules.

With that in mind we're going to try out a new concept for our forums, contests:[b]Welcome New Members Contest[/b]Contest Rules:1.

With that in mind we're going to try out a new concept for our forums, contests:[b]Welcome New Members Contest[/b]Contest Rules:1.

-Scottproperties im looking at are up to $50,000. last one i lookedat fit in the 2% rule, i offered 20% down owner financing, andthey accepted and then backed out..!

These members may have violated the rules of the forum and were having their accounts investigated.

We have acess to the cash to take down and complet 10 at a time 450KTHe local Bank has already loaned at 20 year AM 8.25 (prime+.5) for 6-% LTV cash out but only after tenant has made 2 rental PaymentsIt is a Revitalization type scenario..Friend has already completed 25 of these over the last year and only has 6 left in inventory.... but sales all but stoped in August and Septemberr.The banks are still looking at this as a Community Redevelopment Act money play so once fixed we can unlock our cash and then some....I will search for the 50% rule but find it HIGH for a direct Managed property that has been COMPLETELY rehabed... new wiring, new plumbing pipes new hotwater heater new heater....

Now let me qualify this by saying that I do not know if they actually cash flow based on the 2% rule.

They usually have rules for allowed uses though, and that may run counter to the property being used as an investment.

would i just fax contracts and such back and fourth, and use email and phone as communication?