15 yrBut we don't like debt so....not norm here ;)We now have 10 yr on primary home.Investment was 5 yr arm and we begged.Cash and equity other deals.

They charge me a set yearly management fee of $150 (for first 10 properties combined), vacancy or no, and 8% a month.

If the seller's BK eliminated the debt on the house, there is little benefit to them in a short sale.

If you're looking for the most cashflow without a lot of debt, you could take, say 200k out on a refi, and buy as many properties as possible with the cash(somewhere like cleveland).

( I think it would be helpful to say I would be graduating with zero debt since I'm on full ride scholarship as long as my GPA stays above 3.0)Sorry if this is a childish question for biggerpockets or the wrong place to post, I've been reading alot here and was just looking advice from the people with experience here.

Bigger pockets Community, My first deal just went down the tubes b/c my parents who where my cosigners have "too much debt" (they're investors) according to wells fargo.

This may be an unpopular opinion here on BP, but I firmly believe that most people who attempt to get into flipping won't succeed, regardless of whether they have a mentor/coach/teacher/guru or not.Of the people who try rehabbing, my guess is that 70% won't be successful long time, either because they don't have the skills, the personality, the intelligence, the motivation, the money, or some combination thereof.

Do they take the loss, divide by 12, and add it to the debt portion of the ratio?

The reason a Purchase Money Note, as a debt instrument is preferable is because of the possibility of a seller-come-creditor having some ability to have recourse on the borrower, where it it is argued that obligation is a promise to pay by the purchaser.

You will renovate the property and will expect that the property is then worth more than the combination of the repairs and the acquisition price you originally paid for it.The ARV is the value of the property after repairs.