And if it did happen, the lender will simply fix the "botched paperwork" and proceed, A lawsuit will cost your friend $25,000 plus paying the arrears on the loan with no guarantee of success.

Property is a 3bed, 2ba SFH (Cedar Rapids, IA) listed for $96k (was purchased in March '24 for $90k...looking into that)Market rent is $1,300 (could nudge up $50 maybe).

I am somewhat concerned about the current housing market.

Sometimes you can talk directly to the owners.Use the Internet - Websites can show you houses that are being sold because the owners couldn't pay their bills or are in other kinds of trouble.Check Public Records - Look at official papers to see if a property owner is behind on taxes or other bills, which could mean they need to sell fast.Study the Market - Learn about how much houses in that area usually sell for and how much you could sell it for after you fix it up.Be Careful - Make sure you investigate the property fully to see if there are any legal problems or money owed on it.By using these steps together, you can find properties that might be a good investment because they need work or are being sold at a lower price than usual.Kind regards,

How does new western find their off market properties?

Study the market.

You can generally place a voucher tenant in any property.In order to place a section 8 tenant you will have to pass an initial inspection as well as an annual inspection where they tend to be more strict and have you fix things that you may not have addressed for a market tenant.

Hi Carlo,Interest rates for DSCR loans can vary based on several factors such as property location, borrower's credit profile, and current market conditions.

Sounds like your target market (or guest avatar) is fisherman/outdoorsy vacationers.

I look forward to engaging with you and reading about your successes and how you overcome challenges.Success to you!