Hey everyone,I'm wondering if anyone targets balloon payments when they're mailing or has in the past.

I want 15 yrs loans, as little as possible cash expenses, min 15% CAP, GRM of 6 or less, DCR of 1.4.

I’ve read tons of books, I think I’ve probably read “The Book on Rental Property Investing” three times now, so I have a basic understanding, but not much past that.Our ultimate goal is to find a place we can live in for 1-5 years and hopefully hold on to as a long term investment when we are ready to move on.

I've kind of been an island this past year in terms of market research and I'd love to start comparing data with fellow investors.

My past agent has brought me several duplexes and she is also the listing agent.

LOL.. and those folks don't post on BP.. on BP its all blue sky rentals are the way to financial freedom quit your day job.. live the life you deserve etc etc.. well for some for sure.. for many NOPE.. they are like why did I do that.. and they exit no matter the loss.now this is more prevelant in the lower value asset markets.. not all markets are like this.But I look at when I started hard money lending in 01 for turn key and I started in Detroit.. the homes there appraised at that time for 120 to 140 each rented for what they rent for today 800 to 900 in those days the .05% rule was fine.. we loan 80k as a HML .. well those homes tanked as you probably know many went down to less than 10k in value.. thankfully the 200 plus I did there I got refinanced out of them all. but you know long term lender lost their lunch and so did most of the investors in those days.I am not prediciting another major meltdown.. but even  break even is not a good position to be in with rental properties in my humble opinion the risk/reward and hassle factor just weights on you.. but I know I am in the VAST minority in my thinking.So my thought is you really need to get these things paid for and keep them forever.. but life happens and I would say 80% of people that have that thought process going in never make it past about 7 or 8 years.

I am not a lawyer etc, but if your past schedule e’s have normal looking deductions you should not need to worry.

@Mike Lauer they will do a full appraisal and use market value but they will not let you go past your original cost, in terms of loan size, for that first six months.

Once you move past the owner occupied I would say is when the game changes and you will be looking for a bank that will lend more on the property and risks involved beings it will be a true investment from the banks perspective. 

We're hoping to network with a realtor that knows the area and has worked with investors in the past and hopefully get started doing deals in the city.