Re: postcard method, it's not foolproof but it's pretty good...

It sounds I should pass on this property if my math is correct?

Thanks for quick response, and I did not know that I can shop for another lender in next 30 days.....I am very new to all this :(   I am learning that I should have done my homework got the loan approved before putting in an offer. corrections, seller did not accept the offer yet, the seller would accept the offer if I came up with proof that I have the pre-approval( remember I only have 50K in cash)also seller already agreed to pay the closing coast if I can show the proof.  

Correct.

Connor Hedley You are correct.

All welcome, if your interested leave your name here and when we solidify with a date I’ll post it in the correct forum.

In MA it is very technical and frequently my buyers have the security deposits returned to the tenants in case they have not been held the correct way or they could become liable.A couple of times I have had to go back after the seller because the tenant was able to prove they gave a deposit and the seller said there was none so my buyer client was on the hook.

Two methods you should look into more is "House Hacking" and Owner Financing.

Coming from the Midwest with a relatively low-paying job I wouldn't have enough cash to invest using traditional methods.

I think having a track record, having a type of deal that people are familiar/comfortable investing in and selling the deal correctly helps quite a bit too.