I'm seriously considering a career change to become a Mortgage Loan Officer first before or alongside investing in real estate.  

And to use all of the proceeds from the sale in your purchase (again 50% of the total proceeds from the sale).The contract price minus closing costs = your net sales price (reinvestment targetThe net sales price minus mortgage pay off = the proceeds you need to spend.Since the debt is paid off as part of the closing neither one of you will have enough in proceeds to simply buy your replacement with the cash proceeds. 

I am happy to shoot you a PM with some Chicago insurance referrals...I also know @Jason Bolt here in BP is active in that space.I think the better question besides cost is are you properly protected. 

I generally prefer mortgages due to title insurance issues.Would like to know the experiences/opinions of others.

My goal would be to buy, rehab, get up to market rents, refinance at a better rate.Three duplexes in Virginia:Property 1 (2 units - 2 bed 1 bath each)- Appraised Value: $245k- Mortgage Payoff - $183k- PITI: $1709.57 - Interest Rate: 9.25%- Total Current Rent: $600 (one unit is vacant)- Market Rent Based on HUD: $2986Property 2: (2 units - 2 bed 1 bath each)- Appraised Value: $270k- Mortgage Payoff - $202k- PITI: $1845.29- Interest Rate: 9.25%- Total Current Rent: $1450 - Market Rent Based on HUD: $2986Property 3: (2 units - First is 3 bed 1 bath, second is2 bed 1 bath)- Appraised Value: $263k- Mortgage Payoff - $190k- PITI: $1809.04- Interest Rate: 9.25%- Total Current Rent: $1500- Market Rent Based on HUD: $3572Other Factors:Total Current PITI is $5363.90Total Rent is $3550Tenants are all month to month with 1 unit vacantEquity After Deal: $197k (may be more as appraisals were done 1 year ago)Rehab costs to get market rent: $20k per unit or $120kLet me know your thoughts!

Purchase a property with 3 to 5% down and get some friends or others to help pay the mortgage.

First and foremost, as a landlord, you have the right and obligation to ensure that your property is properly managed and maintained, including making sure tenants comply with the lease agreement and relevant laws and regulationsStart by communicating with your PM, emphasizing your worries about the safety of children.

You see a MF property, you want to buy it and have the other tenant pay the majority of your mortgage.

I've grown to learn what to do, how to do it properly, and continually educate myself to do better on the next deal.

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