Contrary as the name seems, you can use a commercial loan for ANY property where it makes sense, including single family, duplexes, etc.Once you start doing loans on the commercial side, you'll find that property performance is far more critical than your personal debt ratio.

It tells them that you are serious about your business and are interested in keeping track of every penny you spend, by keeping expert reporting on every aspect of your investment properties.

I covered some aspects of how we screen and operate in a recent thread.For our student tenants in general we perform the same screening we would for any other tenant, with the understanding that they are students and will not likely have the desired income.

I want to have a collection process or system for tenants like with the other aspects of landlording.

Maintaining good relationships with a handful of contractors and using technology like digital answering services (Google Voice), rent collection web sites, etc give us the right balance of knowing what is happening to our properties but minimizing the disruption to all of our full-time jobs.For us, there are two critical periods: one is during the renovation phase, especially if tenants are in the property.

Well way I see it thus far is if we look at just the legal aspect two words come to mind.

Even though your numbers on a $50,000 home generating $800 per month would probably be criticized by the 50%/2% group here on BP, I would certainly be comfortable with that decision. $800 seems extremely low for anything in California, isn't it?

However, it will take a while to collect. ( 1 year is the longest one i have had)Lastly, i am sure you might be concerned with the deceased aspect, however this aspect is a non issue if you present your information correctly to the 1st lender in regards to a payoff.

On the flip side you could set some aspects over to them specifically.

:)I agree with aspects of both sides, absoluetly not all of either.