You personal debt to income is very high.

Take possession of one unit and rent the rest.

He will also pay 12% interest on $15,000 of the overbid (15% of the tax appraisal) and no interest on the remaining $4,000.There are some post-tax sale possession issues that everybody should know.Good luck!

I've had credit for less than a year and haven't filed income taxes yet, my first filing will be for 2015.This way I will have the income, experience, business history needed to get loans and show operating capability, and I could use that company for all our real estate transactions.Another advantage would be having the manpower to purchase buildings and keep the management "in house", while at the same time having some income from the existing management  contracts they have in-place.I am looking for a company with at least 5 years in business, cash flowing 300-400K, healthy financials and no debt.

As long as the property is seeing actual cashflow each month, someone else is paying down your debt for you and you are building equity on someone else's hard work (tenant's job pays your debt).

@Ann Bellamy- I've read through the decision and it seems the issue was that the agreement included on-time payment of future rent, otherwise the current writ of possession would go into effect.

To pay off as much of the credit card debt as possible.

The underwriter looked at my case and find big gap at debt to income ratio.

Lots of current debt on the property including maintenance fees, RE taxes and an assessment from the hoa.

In your example, a $5000 +/- on expenses can swing the cap rate from 10.5 to 12% may not seem like much but depending on your debt cost could be significant.Lastly, some items should be easy to estimate (taxes, insurance, etc..)