My experience has been to PreQual the candidates with their on-line lenders otherwise I was ending up with Candidates that could only afford the Lease if they did not pay ANY of their other bills:-(

Anyhow, I do agree with Bob's message in concept - the problem with 50% rule is not merely that it is garbage, which, as Will said, it is, but that it is useless in giving us any information we need to have if our objective is IRR underwriting.

Depending on where you are looking, this information is available online through the county recorder's office.

Whether you pull the trigger or not, I'm sure that year of hard work and studying has helped lead you to this moment.I don't know specifics about condos - although I don't like worrying about HOAs.Since I invested in Jacksonville, Florida from Korea, I had to do a lot of due diligence online. 

Based on that, I usually like to watch the chaos from the sidelines and back out of any scenario similar to this and instead, focus my objectives on deals where the downside is also as finite as it can be.

@Barbara G.This looks like a classic case of not defining your objectives before making an investment.

Go online and shop banks in your area.

I've been trying to study on my own online for the CA Real Estate License.

The REI education school I'm connected with has a two-day on-line tax and legal class which only breaks the surface - the tax code is many thousands of pages!

I have had to learn so much this week with posting the rental online.