The problem is I don't have 2 yrs work of tax returns to get financing with the lender on these deals.

1-4 units is perfect.long term as in 30 yrs?

some things ive learned over the yrs from sec 8...all sec 8 departments are not run the same...in mass. where i live they vary from city to city, some are better to deal w/ than others and the only way to know is to network w/ other LL's...sec. 8 in my market tends to pay more than a regular renter (maybe approx 20% more) ...also section 8 tenants tend to stay longer...the re inspections are usually no big deal if you keep your properties up as they should

Yrs back I rented to a single woman, mid-fifties.

As alluded to in the first post, I regret not having done other things such as when we first moved to AL 8 yrs ago....you could buy (buildable) lake-front property for under $30k.

The contracts I have used for over 20 yrs is: Lease Purchase with the Seller Lease and sep Option to Purchase for the Tenant Buyer. 2.

If I were to try a Lease Option for say 2 yrs, I expect an Owner to want at least 6 or 7 appreciation. i may make a little on the rents and some on the option; however, when I sell, if values have declined or staid steady, I will not come out ahead.

.$70,860/12 months = $5905.00 NOI per month$760,000 @ 9% for 30 yrs = $6,115.13 monthly mortage paymentFor a NEGATIVE cash flow of $210.13 per month.So, shooting for $100 cashflow per unit, I would need to purchase at around $435,000.I pulled the 9% interest rate + 30 year term out of the air, so any corrections on the reality of such a mortgage are appreciated.Do my calculations look right?

But I learned something about 1 1/2 yrs ago.

I have a property valued at 245K and I owe 175K.I've lived in property over 2 yrs and my original goal was to sell and pay no taxes.