In A and B neighborhoods, it's hard to get rents to meet the mortgage, taxes, and home insurance and still make reserves for maintenance and capex and prop mgmt., which is why it's hard to invest in rental SFR in those areas.

I usually tell buyers that every $10,000 borrowed results in monthly PITI (principal, interest, taxes, & insurance) of approximately $70-$80/month.

If it is FHA mortgage the down payment and insurance is not what you put in.

Jay, can you send me a link to their profiles.you will have to ask Mindy.. but I just got another PM from him  and it was from account closed.. so not sure how he / she managed that. still trying for that 800.00  which first was for PPI   private payment insurance then turned into application fee  

I know most banks are FDIC insured, but who knows how that whole process would go if it becomes necessary.Therefore, when these guys are saying they have cash ready, do they mean actual physical US dollars, cash in banks (like most Americans), or some other form of asset?

Hey William,   after checking out your report,  if the property is in our area,  the monthly taxes is low or the assessment maybe low and will go up after you purchase,   and I didn't see a line item for insurance either,   you may have trouble getting a 30 year loan on a multifamily,  I'm sure its possible, we are closing on one this week,  20 year @ 5.25%.   

The big key is to use open source documents for state or county court systems.

It came to mind that your agent could request any documentation the owner has (rent roll/expense details/vacancy rate,etc.) to assist in decision making, but I assume some people may actually make offers only from pictures, purchase price, and rents.

My note investing goals;Buy lowNon-performingHold and collect mortgage payments Resale to an investor looking for performing note Address: 2124 Tullis Dr Montgomery, AL 36111Asking: $42kLayout: 3/1, single family homeArea: CLien position: 1st UPB: $80,968.80Monthly mortgage payments: $719.78Sale comps: $62k Rental comps: $600 per month4 months behind on mortgage paymentsTaxes: $218/year (actual, from county website)Insurance: $217/yr (based on a formula for a home in the 50k-60k range)Here are my thoughts on how to underwrite it: Offer: $28k Fair Market Value: $62k Modified mortgage payments: $650 monthlyPayment upfront: $5kI came up with the 5k based on lawyer fees, BPO, tax for the yr, insurance for the year and servicer fees.

Some feel that as long as it's kept arms length and documented tightly that they can do it.