More to come.Julius The owner/property manager will be the ultimate vetter if you will, but we would like to assist them in this process to let them know that we at least made an effort to get responsible renters to them.

Thanks for quick response, and I did not know that I can shop for another lender in next 30 days.....I am very new to all this :(   I am learning that I should have done my homework got the loan approved before putting in an offer. corrections, seller did not accept the offer yet, the seller would accept the offer if I came up with proof that I have the pre-approval( remember I only have 50K in cash)also seller already agreed to pay the closing coast if I can show the proof.  

Great guy, super responsive, very easy to work with.I hope this helps!

thank you for your response

am I responsible on the all other liens-mortgages?) 

Thank you for any and all responses!

I managed the rentals myself up until early this year when I hired a property management firm in order to get some free time back, have some backup so I can go on vacations again,  and in response to the hostile political environment towards landlords in seattle.My long term plan with REI is to get to a large enough door count such that with sufficient equity the net cash flow is enough to live on comfortably  (which I would define as matching my current gross software engineer's salary).    

I’ve asked the same questions here and have had no response from others who do itCould it be the returns are so good that anyone who is doing it doesn’t want to ‘let the cat out of the bag’?

Who is responsible for paying property taxes and insurance?

@Ken Rishel, thanks for the response!