I am targeting homeowners with dilapidated homes that need repair and offering to pay for the rehab and split the profits with them at the end of the project after the sale of the home.

You'll get high quality tenants who can pay their own rent and they pay on time.

The seller however does not have any documentation to show he made any reasonable efforts to evaluate the borrower ability to pay the loan.

Pay to separately meter the utility.

This could be a sign of strong negotiating skills among sellers or a market where buyers are willing to pay close to asking price.Finally, the Median Sold Price is $576,500, which gives sellers an idea of the average sales price in the current market.

Typically those lenders pay more and are better to deal with less hassles.

Now you need to figure out how to find deals and pay for them.

Realized it would probably be cheaper on a monthly basis to have a mortgage there rather than pay rent for another year.

You would need to document your hours along with the hours of anyone else.Do you plan to pay this 'co-host'.If you list that as an expense on the return it would likely turn as a flag in the event that you get audited.Best of luck.

It is the funding that I am lacking.I feel that I am in a stalemate and the only way to purchase my first rental property is to generate more income than I am right now to get to the point of being able to pay the downpayment.Thank you all for reading this post and I appreciate any responses and advice.