I will give you the rounded numbers.The terms where 70% LTV, 3 points, 14% interest only, for a 6 month term.Price of the property was 89KRehab was 37KProperty was appraised at 155KMy Loan was for 108.5KI came to closing with roughly 20K out of pocket.

The added bonus, of course, is that much of your rent is guaranteed.

Once you've paid closing costs, appraisals, inspection and then another round of realtor fees at the sale, you aren't going to make much.

If your policy is to accept applicants with "income that is 3 times the rent", then define how you interpret "income" (e.g. income is W-2 wages excluding bonuses and overtime) you won't have to deal with tenants afflicted with what you call "absurd" disabilities.

What has worked better in your market? Post Cards or yellow letters.

Overall, in my opinion, I find post cards to be much more effective in cost per marketing dollar in my market. However, this is specific to...

So trying to fit a square peg in a round hole takes a lot of energy.Mark Twain said it best."

Just so you know HUD in some areas do offer a cash bonus for a quick close , paid to the buyer.

To date, no one at the biggest banks has gone to prison for pushing bad loans onto people who never deserved a loan, all in the form of a Wall Street bonus.

one of my examples27k purchase8k rehab795 rent/9543Pm 1350Property tax 643Fire insurance 400 rounded up its high 300No windstormMisc repair 1000 really high but I'm not counting roof I did last year I've had property since 099543-3397=6143÷35000=17.5I got one where I paid 12 k put 12 into it and section 8 at 820 a month it was termite infested and everything else but I was young did most the work my self so it turned out OK only problem is that they are not appreciating as much as I would imagine but I've had that one since 06 same tenants can't complain

Now that they've talked it seems we can get the extension for the closing date and lender will start working on loan docs as soon as we provide them the updated contract.Stayed tuned, when we get this one closed I'm buying the first round of drinks!