Get to know your variables like construction cost and values and rent amounts.

So to clarify, the 12 month seasoning applies if you want to use the appraised value of the property.

Funding came from a small local bank here in Memphis, Tn How did you add value to the deal?

I have built a portfolio of almost 200 units with 90% in Utah and about 75% of those seller-financed.If you don't feel comfortable with seller financing, finding off-market deals or value add opportunities I highly suggest we jump on a Zoom call.You need to network with people who are where you want to be and if you don't you won't get there, ever.

Only the comps are used in the obtaining value. 

., the mortgage balance exceeds the property's market value).So, in short, you can pay off the mortgage even if it's technically still in the previous owner's name.

How did you add value to the deal?

Most work this way Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

If something similar would be required, might start having some effect on the structure value as you near the end of lease.  

Did you add value to the property or did the market do it for you?