Hello All,By law established 1999, to avoid / cancel PMI you need to reach pay at least 80% of the principle of based on the original purchase price. 

I would be concerned that 50% sounds almost too good to be true, like he is desperate for funding and has no other options...which would not be the case for an established builder.

Do you already have a solo(k) established or are you still at square one?

You don't want the tenant calling the most expensive repair guy when you may already have an established relationship with an appliance repair service or a handyman.  

One in particular, The Carlton Group, is already an established global real estate investment banker.

Communications and expectations along with a more well defined area to look at have been clearly established.  

we were lucky in some respects, but ultimately, hard work, nose to the grindstone & living simply well within our means does it for us.  

(In Columbus, that will buy a respectable home.)

@Winston Spence in addition to the other advice about knowing what you want and being transparent with them is establishing credibility with them.

He buys them super cheap (3k-5k) puts a little work in them...rents them to section 8 tenant for $650 and up...However these type of investors are built different, they are usually hometown guys who have a high amount of respect in the city.