Food for thought.

We've used conventional financing so far on our deals, but you're correct - if the place is in really bad shape, that route may not won't work, although we've been OK so far.

They would be the legal owner of the unit and I'm within my rights as the property owner to increase their rent within the guidelines of my state, correct?

@Will Barnard If I'm understanding you correctly, you're reading my question as tho' they would put up all the money, yes?

Further, he is correct the FNMA program being cited is the incorrect product for this scenario.

Wayne, you are correct, that is a possibility.

The LA market is crazy strong, but we're not seeing nearly as many all-cash deals as last year, but still quite a few.If I recall correctly, Realtor.com published an infographic that showed nearly 50%+ of all real estate transactions in the Los Angeles went above asking - crazy.

Just my food for thought.

I don't think you're going to have trouble getting another loan if I understand you correctly.

We think we may have a fix, which may also fix some of the other mention issues people are having . . . once we correct it, hopefully you can help test it out for us.