Over the last few weeks I have been gathering as much information as possible in hopes of one day becoming an investor.  

Where we are hitting a snag is I am using a VA loan and my lender needs to send out closing disclosures 3 days prior to closing and since the ownership is not under the wholesaler's name, they won't be accurate and the lender won't put the wholesalers name in the documents until they have proof of ownership from him.

Where we are hitting a snag is I am using a VA loan and my lender needs to send out closing disclosures 3 days prior to closing and since the ownership is not under the wholesaler's name, they won't be accurate and the lender won't put the wholesalers name in the documents until they have proof of ownership from him.

Where we are hitting a snag is I am using a VA loan and my lender needs to send out closing disclosures 3 days prior to closing and since the ownership is not under the wholesaler's name, they won't be accurate and the lender won't put the wholesalers name in the documents until they have proof of ownership from him.

However, Phil's free youtube videos are actually a great source for gathering basic information about REI.  

Your mortgage lender will be able to give you an accurate estimate if you e-mail them the information.

In that case, you would have to consider HELOC or cash-out refi on your other real estate assets or gather the cash from individual partner/JV investors.Regarding your offer price, 20% haircut would be a pretty low offer for only being on the market 60 days and it's close to turnkey.

This individual is selling houses below market value, and if the advertised gross monthly rent is accurate they would be a great deal!

Actually the use of percentages on the expenses related to income rental properties are usually very accurate measurements based on hundreds of thousands of rental property statistics.

I initially thougt the rents were really low, but the property is old and needs some updating so I think they might be accurate.$1,575/month or $2,175 when we move out and rent our apt.Expenses: Tenents pay all utilities except garbage.Insurance: $923.44 or $86.87/moGarbage: $40/moProperty Taxes: $236/moMortgage: $687.48Repairs & Maint: 12% since it's old, so $189/moVacancy: 5%, it's in a quiet neighborhood with great schools, so $79/moCapex: 5%, $79.$1,397.35Repairs:The roof looks good from the street, however it's about 15-20 years old so I expect to replace in 5 years or so.