They moved because they needed a bigger space (there new building was double the size).My calculations indicate that by putting the excess cash generated every month against the principle, I should be able to pay it off in c.11-12 years.Would love any thoughts the collective BP community has!!

So I says to the guy.. don't you think 90k is a little excessive for a wholesale double escrow fee.. just got a bunch of double talk..

.$2800 a year seems excessive, although a roof could eat up a large chunk of that. 

Specifically, they take out a HELOC on their buy-and-hold (and/or primary residence) ... when they find a deal they pull money from the HELOC ... when they finish they pay off the HELOC ... after a few of those, they take the excess profits and buy another rental.

Buying excess inventory from small builders would probably yield the same savings and it's a lot less work.Markets in Seattle aere supposed to be going up.

I wouldn't consider this nice stuff though. 17 founded Police calls in the last month has caused this current owner to be fined $500 for excessive Police calls.

Instead you need to focus on what you believe you can get the tenant to do without going to war.On a side note I personally believe that 45 day notice is excessive. 30 days is pretty standard.

@Chris Mason is a loan officer in that area and can give you very specific information.One thing though is if you are looking at 720-750k properties, you are going to be in excess of the FHA loan limits, so an FHA loan isn't going to work.

FHA loans only make sense on loan amounts in excess of 2-3 Million dollars due to the high, upfront costs of the loan.Regarding reserves, I want to clarify what Hayden stated above.

Do you want to see 15% CoC ( Ie so you can do a 8% pref and 50% splits of excess ) Do you want to see 30% upside in value so you can do a back end split of 60/40 after projected 5 year return.