@Lavada Lindsey203K is for owner occupants, not for flipping.

. :) How would u guys "confirm" the gross rental income as well as the occupancy rate of 95% and 98% as stated by the seller?

The only thing I can think of is they want more owner occupants in the area.  

If the loan is with a non owner/occupant, like an investor, then you can self originate as long as the borrower does not live in the property. 

Not officially turnkey, but very close in end result, acquisition costs were about 12% below market (so a little better than most turnkey deals , 8% rental with immediate occupancy (less than a week) and no repairs of any kind required.Although the appreciation in the WSJ report cited above indicates 6 to 10% for this region of OH over the past year, I'm thinking going forward it will be closer to 3 to 5% since things appear to be cooling some, but that still works for me.I also agree that Oakland or anywhere in CA now is more about speculation at this point than anything else.

Sure there are some houses being build by owner occupants, but not really developers.  

You may have to get a rental unit certificate of occupancy, atleast I do for my rental unit in Cherry Hill.  

I think you will want to look out for these characteristics:- High renting vs. owner-occupant population.- Low cost of pre-rehab acquisition (10-50k range).- Similar product on the market.

The occupants of my house were locked out Feb 5th, 2019 and I am still trying to fix all the damage, mold remediation, etc.

With rents at $475/month and assuming 100% occupancy and 50% expenses that gives you $28,500 NOI and a cap rate of 6.7%.Let’s assume you do nothing but raise the rents and still maintain a 50% expense ratio you get an NOI of 39,000, with the same 6.7% cap you get a valuation of just over $582,000, which is a difference of $157,000, not $262,000.Where are you getting an 11 cap and 26% cash on cash?