MRE's might be your best bet based off your criteria.

Appraisal standards state that if a home has 2 of the 4 walls below grade (i.e. up against earth) then it is not calculated as part of the Gross Living Area.

I bet his Dad could qualify for a streamlined HARP program loan through his current lender with minimal documentation, no appraisal and minimal loan fees.

For a quick test to see if I am interested in checking out a MHP I take the occupied spaces and calculate a gross rent from only the occupied spaces and then multiply times 60% to eliminate 40% for expenses and have a rough NOI to divide by the cap rate I desire from the MHP and arrive at a max price to offer.

Each unit has two bedrooms.The average rent for a two bedroom in the location that I'm buying ranges from $750 to $900.These are my calculation:1st unit - 750 (tenant pay utilities)2nd unit - 850basement - 600 Monthly Income - 2,200Annual Income - 26,400Loan - 20 years at 4.50 %Down Payment - 20%Taxes - 4,100 The building needs some cosmetic repair nothing major so far.

Your best bet is to make 10-20 offers and be satisfied if any of those offers come to fruition.

Underwriters (and appraisers) will want to see improvements that substantiate the price increase, and if you didn't do any work, you won't be able to provide that.In these cases, an end-buyer with cash is your best bet...

How accurate is the Mortgage Calculator?

With mortgage rates this low, I bet you will make a lot more money in the end.

I would bet had the robosigning thing not take place, you'd see the judicial states running about the same rates as the non-judicial states - meaning a fairly decent decrease year over year.I also wonder how these would look if you added short sales to the mix.