My Client has following Situation: 1099 Worker; Same Profession the last 8 Years2023 1099 Gross income $87,0002022 1099 Gross Income $134,000 Looking to buy a Condo, SF, or Multi-Fam, and rent out spare rooms & Apartments in the House. 

Quote from @Gene D Stephens: Hi Chris,I'm relatively new here and was just wondering if you could expand on your last comment.  

Home last sold in 2007 for somewhere around $120k, currently could sell for upwards of $400k, so it's probably paid off or has very low interest rate.

Lastly, I love YouTube for learning, too! 

Hi, I bought a home last year in Lancaster, California.

Last time I did that, years ago, I got off the phone and figured it out myself. 

House gets foreclosed on when a borrower is not paying its debt obligations - typically its mortgage.buying foreclosures is not for the faint of heart as you have no idea of the interior of these properties lastly while it can be beneficial also realize if there are a lot in an area those homes are the new comps when trying to sell so it lowers home values in an area 

Our big cost is the mortgage interest, which is 8.3% on approximately $360,000, last year our mortgage interest was about $25,000.

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

I cannot remember the last time that is visited a property before making an offer.