Just a plain old boring lease with a security deposit made, move-in date on the lease to be about 3-4 weeks after you intend to close on your new purchase.We can use rental income to offset PITI on your old house, fixing your DTI.After that lease is up, evaluate the performance of your old home as a rental property, and either keep or sell it at that point.

(common in this area)Rounded a bit, this is $2283/month.IncomeUpper Unit = $1450 (realtor said a conservative estimate would be 15 but I think that this would be more accurate although it is not rented out yet.)Lower Unit = $1150 (leased for another 4 months)Total= 2600$Income-Expenses= $317To be safe I have always been told to have a security margin, usually 10% of the income in case of vacancies or other issues.$317-$260= $57Is this the correct way in analyzing this property?  

I am looking to establish a line of credit on one of my investment properties. I own the property in an LLC which is proving to be a hindrance for the banks. Any suggestions would be greatly appreciated.Luis

It would set a precedence that now you have to buy security doors for all your tenants

Remind them what's been happening to the holdings invested in Wall Street and ask them would they like a better, safer return secured by real property.Negotiate the best terms you can, of course.

At this time I had to pause but decided to return the security deposit (which I still have).  

Concerning your situation, I would ask for a double security deposit to cover the credit scores and allow them a few months to pay it. 

The seller is willing to carry 20% and you have 10%, the question is, what is the security that the seller wants?

(Yes, silly Banks, but can you see where they are coming from, when EVERYONE will tell them that THEIR newly acquired property just happened to be the bargain of the century, so please lend the FULL purchase price, even though it is the only thing that can be put up as security)?

I'm in Langley only a few minutes from the border and have been doing research into Northern Washington.