wow so impressive!

They just barely survived the the crash of '06-'09 and have skated by on modest cashflow; but now enough is enough.One caveat, the values are not really impressive and if I were to refi I would surely be negative; they have amazing rates on their mortgage in the low 3's.So, the deal being discussed between us is I would pay for any repairs and other CapX issues that may arise and I will see my return when they sell the properties.

@Howell Conant Welcome.I used to be impressed with the KW franchises, you should at least get Gary's books.

In discussing FHA loans with a couple mortgage brokers I was under the impression that I needed to live in the properties to be able to use them.

I have been browsing the forum for a while and I am really impressed by the quality of both the members and posts.

I've looked at Lee's site and have read quite a few of his posts here and I respect his experience and market knowledge; if I gave a different impression, then that's my error. 

Just heard from my lender who said that all lenders typically have a 12 month owner occupancy clause in the deed of trust but he has never seen it enforced.I'm not planning to push the "never seen it enforced" part, but I was previously under the impression that it was going to be two years before I could jump out to another property and get a second tenant in here and see some positive cash flow.  

My firm has worked with many students from those seminars and I can tell you I am far from impressed.  

My general impressions are that the SDIRA has to be self-sufficient. 

I'm impressed by your success and tenacity!