Same story for the cap rate, this varies market-to-market and depends wholly on the building characteristics and credit of the tenant.

@Marcus Auerbach I have a good attorney on retainer, so I asked and there may be NJ specific law that option pmt can't be applied as down pmt -- I'll just adjust offer accordingly if that's the case.

Some people consider a loan from the bank using "other people's money" or a credit card advances as "other people's money" but really it's your debt that you owe, interest you will pay, etc.  

I can't, however, credit PoL for seeing to it that the interest and the returned principal matched the amount I originally invested, as they did not provide any further details suggesting that they took care of things.

Seems like the person who will rent it from you doesn't have credit otherwise they would have bought it on own.

Next time I run a rehab project I will apply your advice on contractors, planning, and contingency costs.My aunt did buy the house for $225k cash.

One bank doesn't do house/realestate loans but allows an interest only line of credit for 2 years. 3 have property loans attached to them.

I'm using a line of credit to buy them.

Still building credit that was messed up during my marriage and I still have my GI BILL ..and apartment homes is how I look to create income for myself.So guys if you have any tips and leads any information to send me to point in the right decision I would be greatly appreciative!!

Just don't get seduced by certain returns on metrics that may (or may not) apply to you.