Hi all, I'm back again with issues with the inherited tenants I had mentioned in my last thread.

I inherited someone like this once.

So when I purchased my first home (3 family) I inherited a tenant who happens to be section 8. 

We do have some money we inherited, but dont wish to tie up our capital by buying with cash.Here is one ridiculous loan offer we got .

You also want to pull title (or at a minimum, a present owner search) to verify the current owner doesn't have any additional liens or encumbrances after the mortgage was recorded, since you would be inheriting them.

My thinking is that if I keep a fund aside for maintenance, CAPEX, and vacancy, I can use all of the cash flow to pay down the principle over time - lessening the overall amount I’ll end up paying for the place and also allowing me to use all of the rental income to supplement my retirement income in the future.Here are the numbers:List price: 575kRental income: 3525 (easily increased to 4K quickly after purchase) - with all 4 units rented out.CAPEX, mntc, vacancy 5% - 200/200/200Management 8% - $320Insurance - $110P&I (3.5% interest) - 2582Operating expense (including CAPEX, mntc, vacancy) - 3,612Without CAPEX, mntc, vacancy (~10k fund set aside and replenished as needed) - 3,012This leaves me roughly 1k per month to apply towards the principle.

Also I believe value should have been reassessed at the time she inherited the property and any gains would be the difference between the selling price and that assessment. 

Every time we hit the property criteria on the lender's 'basic' list, they came up with a new reason why they couldn't lend on that specific property (I get it, they need to lessen their risk) - it became too frustrating and a waste of our time.

Motivation to sell (taxes, inheriting the property etc), close to correct pricing ( if they value the property at 100k more than I do we can’t deal), and a reason that the owner occupant market is uninterested (needs work, to many units).

And what if my son is still a child if he inherits and my SO wants to sell the home?