People are buying and selling boarded-up homes in Cuyahoga County regularly, but I do not imagine that there are POS inspections before ANY of those Title transfers, where the price paid is often just land value.And as far as being able to rent out any bought property in Ohio, I have heard from a company that performs home inspections that "unfortunately, Ohio does NOT have any pre-tenanting inspection requirements". 

Horrible mistakes happen on regular basis due to open access to RE auctions that are not responsible for what they sell and consumers that have no clue with what they are dealing.

He bought about two years ago with very little down, triggering a PMI payment.Between regular mortgage payments and subsequent appreciation (mostly appreciation, as it sits on the water, on a canal) there is now substantially more than 20% equity in the house.The issuing bank is telling him that regardless of the equity in the house, he has to carry the PMI for a minimum of five years before he can get rid of it.Is this correct?

Quick question about what I regularly see at closing tables.Usually as soon as the loan closes, it is sold / assigned to someone else. 

Yeah we regularly ride our skateboards the 60 miles down to Toledo to rob and pillage.The only annoying thing is all the $500,000.00-$1,000,000 houses we have to ride by to get to the $40,000 houses we like to target in Toledo!

Then the regular rental amount starting July 1st.Does anyone here split the deposit?

They basically just film what people do and the mistakes they make so you can see what actually happens when regular people try to flip.Disclaimer: I do casting for them, but we really do only cast first timers.

To clear up the distinction, everything everyone said has been right in their own respective context's however a property going from LLC can go to personal names or intervivos living trusts with conventional financing but yes it cannot go from LLC to LLC using conventional financing and this distinction is where portfolio or commercial financing is needed.As for the up to 6 financed properties for cash out yes freddie mac can do this while fannie is limited up to 4 unless if its delayed financing which has a limit of 6 for freddie and up to 10 for fannie with varying LTV's depending on whether your doing delayed financing or if you're doing a regular purchase/rate and term refinance and depending on how many units you're financing.2-4 units typically have LTV's that are lower by 5% as compared to 1 unit properties on the purchase and rate term refinance with properties 5-10 with fannie, however the other distinction is that with freddie properties 1-6 and even 5-6 dont have that "lower," LTV reduction as with fannie so this can be seen as a niche.to do a traditional cash out with out LTV or value restrictions the property will have to be owned for 6 months.

Besides the regular tenant nightmare issues like tenants letting the pipes freeze due to services being disconnected for non-payment, property damages, ongoing calls about plumbing issues, and the list goes on and on and on... there are other reasons (when dealing with Section 8 tenants) that would not make it cost-effective to be an absentee landlord that doesn't bother with their tenants.There are routine inspections, repair reports, fluctuations in rent portions, and times where NHA will abate (not withhold) rent due to failed inspections.

(More time, money and less R-value)Drywall regular with higher r-value insulation.?