Loan Criteria Documentation Full Income / Verified Assets Main Credit Score 580 Occupancy Owner Occupied, Non-Owner Occupied Foreclosure 84 Months Old Bankruptcy Ch. 13 84 Months Old Bankruptcy Ch. 7 84 Months Old Loan Amount $100,000 - $1,500,000 Lien Position 1st Mortgage Cash Out Amount $1,500,000 Loan Purpose Purchase, Rate and Term Refinance, Cash-out Property Types Hotel/Motel, Other Commercial Types, Restaurant/Bar Rate Types Straight Fixed, Adjustable, Hybrid Amortization 15 Years, 20 Years, 30 Years States AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY Special Features Borrower is a Corporation, Borrower is a Trust, Interest Only Payments Available, Borrower is a LLC or Partnership You might even have to consider a hard money approach---here is an example of what you can expect:COMMERCIAL, 001 70% commercial Loan Program Notes • Loan amounts are allowed from $100,000 to $5 million

The industry's sweet spot is 90 LTV (90% financing) and you would need a FICO is the high 6's/low 7's, be able to document income/assets, have cash reserves on hand, etc. in order to minimize your down payment requirments to 0-5%.

Mortgage brokers, the closing process when reviewing documents, are two examples.So, I would say that a hands-on landlord or hands-on rehabber will still invest locally.

There is so much repetitive document creation, the opportunity for errors is huge.

If you actually have a fixed term lease, it ends on the date specified, and the document (or local law) should spell out whether any further notification is required.

Quit claim - they agree that when they sign the document they have no rights in the property.

Granted @Rick Ferguson has a great suggestion so as I am not an attorney just speaking from past experience with document changes.

It's the same paperwork that would be done by the lender (loan documents) and/or title company (transfer documents) in the case of a third party financing.

Total cost to "move in" by the Resident Beneficiary is about $7,000. including all costs for the Trust Documents, contengency reserves, first month payment, and Trustee fees.Settlor and RB are very happy with the way this works.

I know that there are some pre-packed documents at places such as Office Depot, but they don't have all of the information that I would want.