- you covered almost all the costs, except for closing costs.

Hi @Phillip Vaughan,Assuming you want a good 30YF, and not a commercial mortgage or a portfolio ARM with higher rates, It's mostly a question of structuring the purchase up-front such that you can shove it into the Delayed Financing Exception. 

No repairs needed except for a sink at the wet bar. 

I have a situation concerning land contract.The buyer paid everything except for $2,000. 

Deals can still be found but it is hard without boots on the ground.A single family home for under 200k in Boynton Beach is tough with exception to rough areas.You may want to look up in Port Saint Lucie.  

@Genesis Pacheco I am not familiar with the New York market, except I do understand living in the middle of an expensive market. 

There are of course always exceptions, so I would review this with your tax advisor first.

I have heard exceptions may be granted for situations less than 6 months.  

Landlord pays everything except electric, even though there are separate gas meters too.

I'm amazed at how many properties I've seen that magically require ZERO repairs over many years.Cap rate is ALL EXPENSES, except loan/finance servicing.