City permits?

Plans, permits, fees involved, etc.?

We give them 12 deposit slips (plus a few extra) for our deposit only bank account.

Hi Brian Porter, we did something similar to buy our properties but according to our loan officer (two months ago) the restrictions are as follow:You can get another FHA loan 3 years after the first one ORIf you move over 90 miles from the current resident with the FHA loan ORyou have a legitimate (this is one is very difficult to use) reason to upgrade your residence (like you are having a baby and need an extra room or something like that.For moving the property as far as I know when you refinance you will need at least 20%.

The add-on was not permitted to the seller's knowledge.

My plan is to clear every one of those homes out as leases permit to refill the community with brand new larger homes.

I would like to do some wholesale deals to make extra money to finance future rentals.

Any extra advice would be greatly appreciated.

Hey Michael yeah those look pretty bad, but there's good news you've WAY over conservatively estimated which is why everything looks so dismal.You include PITI as a line item expense, but then you add in your 50% rule total (10% management 40% expenses), the 50% accounts for the TI(tax and insurance) portion because that is not really debt service so that is probably a good 10-12% extra you've added to the expenses.Also you calculated your CCR which I assume is your cash on cash return.

Also common: landlords who don't address the extra maintenance required at the coast and end up with a rotten building and a bad reputation.