I have a short sale right now that the 1st lien is offering 6,000 to a 2nd mtg lien which is relatively common per many investors.

Duplex 3/2 (large backyard) + 2/1$299,000 - $3,000 in repair creditsRealtor commission assigned to me at closing: $7,100 (my girlfriend was my Realtor and I am licensed as well)Current rents: $1,300 / $1,100Rents after remodel: $1,800 / $1400Estimated cash flow: $150 per doorRehab budget: $15,000Loan type: FHA 3.5% down (I will occupy 3/2 for one year then ReFi) Realtor: Morgan Marziali - Whitaker Realty *Review inspections but don't let them panic you.

I found a template online for excel that I use to record my income and expenses and it has a section to track mileage and multiplies your mileage by whatever the allowable rate is for business travel ($0.535 cents last year).

Hi Brittany, I know I,m late but here is my two cents but your realtor should advise you on these issues!!

It's definitely a city that has been booming recently.When you say your expenses per month are $1910, is that PITI (Principal, interest, taxes, insurance), and HOA fees combined? 

If so, I'm curious what resources are you using to research the local laws per each city?

I mean I used to work as a licensed contractor and for an estimate I would charge $47.00 per half hour of my time , still quite affordable if you ask me Plus that would put me first in line to contract with the cash buyer.

Major carrier lease rates can be $2k-6k per month. 

Heh.You are of course free to use whatever lender you wish, but consider that your agent helps a dozen or more people through this process per year, whereas most consumers get one mortgage every 4 to 7 years.

If not, we will/May have to cancel the contract within our inspection period, as per the inspection clause”.Here in FL, that would not give cause for the seller to be able to cancel the contract, since the inspection clause is unilaterally only the buyer’s right.