thanks seth. i was looking at another property around the block from the one i have in mind and this owner has a special warranty deed. whats that?

You may want to be prepared with evidence of the refinance which can be substantiated if the Seller/Borrower has a copy of their HUD 1 from the refinance.

Not sure if you've already found your 2nd roommate, but once you get your lease prepared for the new guy, I would suggest you also go ahead and have your friend sign one too.

We did get a 5th, however, they required 25% down (some say it's now 30% down 6-10 from what I've read here), higher credit score, higher reserves (6 months on all properties, I believe), and be prepared to jump through many hoops documentation-wise.

When you blanket a neighborhood with mailers, be prepared to get a ton of phone calls of people wanting 250k for a 200k house.

I am a Realtor and specialize in listing REO and HUD properties.

We are a good fit for our own special skills.

What if a worker fell off the roof last week and is preparing a suit against the land trust?

It was my textbook as I prepared and executed the flip.

Another issue is zoning as a special use permit may be required, having special needs or more than 3 unrelated tenants is sometimes an issue.You may also be subject to inspections and ADA requirements, hard surface floors wider doors, etc. it's no walk in the park.After you get the permits and modify the place, you will get higher than market rents (due to mods) but you're also pretty well locked in to renting to that NP/agency, can't really take them to the cleaners as they can move on leaving you with a harder to rent dwelling too.Insurance will be more and you better keep the place up in tip top shape.