This is the message from Wells Fargo:"Purchase contract shows that buyer Nina Ibrahimbegovic (non-borrowing spouse) is the buyer’s agent and is employed by the listing agent company Charles Rutenberg Realty.

400K for a MFR is very difficult to find anywhere in the boroughs or LI unless you're paying cash and/or can deal with additional issues on the property- i.e. non-cooperative tenants, poor property condition, liens, violations, open permits, etc.Another option could be finding a partner to co-sign on the loan with you.

If so, then the title is clear, absent any local government liens.If you mean you've obtained a Quiet Title order and it is final and non-appealable (42 days after the order is entered) then the title is clear.If you mean you can't find anybody who is still alive, the title is not clear. 

Water/sewer service in my area can be liened by the jurisdiction for non-payment, so I still pay that myself, but take the past 12 months' average, knock off a small bit and add it into their lease on top of regular rent. 

Hi Jerry--If what you mean is--Are there fully amortized (non balloon) as-is Rental Property loans that have longer than a 3 year fixed period?

But their is no formal written commitment, it's only verbal.

However, fast forward 9 months after non payments, and us filing Motions to Dismiss and Relief, we finally received a prorated lump sum towards their arrearages along with their past regular mortgage post petition P&I, as they miraculously came up with a huge payment to save them from being dismissed. 

Many lines in the water (especially if you're searching for off market and non-MLS properties and deals) is a great idea!

Of course trash service did eventually come to pick it up a few days later but meanwhile some neighbor complained about trash being out on a non-trash day so they issued a citation to the building owner (me).  

Rental income and interest from loans made by the IRA to others are fully tax sheltered.If debt-financing such as a mortgage is used, the debt must be non-recourse and the use of debt does create a small tax liability on the portion of the income attributed to the non-IRA (borrowed) money.