That might be less than the standard rent up here.Karen Mikolainis I think it might, but I hate to think of shooting $1100 a month to rent a studio when I know I can buy for slightly more.

I'm buying a foreclosure for $84K, ARV should be $125-$130K based on comps, maybe a little higher based on quality and condition. 3/2.5/2 1720 Sq Ft, 1988 construction.The loan package consists of a 6 month IO construction/rehab loan where they will loan me 75% of estimated ARV now, then refi into a 30 yr fixed when work is complete.The ARV is determined by the appraiser based on comps and based on a list of improvements that I intend to make.

She is inexperienced with investment properties, but I nonetheless chose to trust her over trusting someone of whom I no prior knowledge.For these reasons, I will continue to buy in Springfield until:1) the market of viable multi-families is tapped out (which shouldn't take long), or2) I learn enough to feel confident investing in other markets with the help of other professionals.I am very interested in hearing what advice you have to offer to a noob in my situation, getting recommendations of quality turn-key services providers in other markets, and in connecting with other people who can help me in Illinois (a finance person comes to mind first).Thanks, BP!

I have no problem with people selling educational material, if it is good quality material then it will help both the buyer and author make a living.

Also would it be for 1 year or 5 year or what is the standard length for these kinds of deals?

Lots of good quality buyers out there that can't qualify for mortgages right now but want to own a home.

While U.S. banks try to comply with stringent banking standards effective in January of 2013, most of them won’t be reissuing new commercial debt.

The landlord can set lower standards, as long as he does not illegally discriminate.

John, I would check the quality of the wood after sanding.

Not really a bad thing as it seems pretty standard, but I recently put in an offer for a friend of mine on a BoA foreclosure, and it took them FOREVER to get back to us.