Lenders prefer a W-2 but they can also accept, and usually require, 3 years of tax returns and/or profit and loss statements.

I would prefer a 75% ARV with the least amount of cast out that I could.

However, the response i got each time was that the Section 8 program (actually called the Housing Choice Voucher Program to be technically correct) is adminstered separately by each county therefore each county can make up different rules for how it operates.

He had originally told me he was interested in purchasing raw land but being that he doesn't seem to know a lot about real estate and the investment is apparently for his mother, I didn't think that was the best choice for him.

In fact, I prefer houses with this issues and it is almost always easy to solve and people are scared of it.

Plus I can say anyone can technically force dissolution at any time (since the Act I mentioned makes it so anyway) but I guess we will each just acknowledge the fact that such dissolution will cause some headache over appraisal and legal fees - and therefore we prefer to stick to the 4 year plan.By the way, how do you get a fair appraisal in the case of dissolution?

Just curious as to which other investors prefer.

I hate that contract, but given no choice I modify the hell out of it.

It is a personal choice.

While I invest in multi families I have developed a certain style of 2 family or even mother daughter single family that I find works really well...I Strongly prefer the 2 family that has a bigger apt on first fl.