They agreed to try to find something to buy but my father doesnt have an amazing credit score like me or my brother, plus he is unemployed so he wont get a mortgage.I told my brother that he has to be the one getting the mortgage because I have plan of starting my real estate investing career in January (buying a duplex) so I cant have a mortagage like that on my name because my debt to income ratio will be high.

It's bad enough that grandma is getting out of it after all these years so you need to be prepared to kick these tenants out immediately, clean the place up, and then find new tenants.

It's called Debt Service Credit Ratio.

So while a lot of people made money by holding to rental properties in the prime areas of Austin by values going up, it can wipe you out if you’re not financially prepared to handle emergencies.

In 10 years, you'll be glad you did.thank you karen. interesting, the more i dig the more reasons i find for single family house to be a better option. starting to understand why they are cheaper when compared to an equivalent sfh..regarding financing , i would love not to put 100%, but i'm not a from the us and from what i understand i can't get any mortgage in the us yet (don't have a credit score, nothing). my plan is to buy the first property now cash only and start working on getting my credit score going so in 18-24 months i can buy my next one with a mortgage.Originally posted by @Scott Schultz: Regarding Condo Exterior repairs, it is also common for a major repair to require additional funds over the HOA dues, so a Special Assessment is often levied.

As of now i am working on building my credit , since i do not have my own money to invest.

Based on my credit, income, and a few documents I had to provide they were able to get me the money in 5 business days. 

You should ask the bank first if they can provide additional funding, but be prepared to explain what happened with documentation to support it. 

Hi All,I have a rental applicant whom I would like to place in one of my shared housing rentals.We strictly require all applicants to undergo a credit and background check.

And I presume it will get to 5 pretty quick unless you have great credit depending on area.