Hello friends, I hope you are all healthy in these trying times.So I have a refi and I know a lot of this is subjective , but I am wondering what you would do in my shoes.Here are the factsAll in for 102,000Appraised 238,000Rent revived by HUd per month : $2400If I take full amount (75%) it’ll be 172,000 with a monthlong payment including insurance and tax approx $1100.This house is all rehabbed so I don’t foresee many maintenance expenses for some time.I don’t have many expenses so realistically in this scenery I can guess conservatively and say I’ll cash flow 800 after all expenses (500 if so)Would you take the whole 172k at 3.5 % and be cool with $800 cash flow as opposed taking much less and getting 1000+ cash flow on said property?

Have you done any subject to?

Can we just write up a contract that outlines the details of the investor as a profit participant in my single member LLC?

If you want to have a more extended discussion on this subject, I would be happy to have that.

@James Santana I would look for subject to mortgages, or Owner financed and owner equity partnership agreements.This is a bear market that means, Builders and Land lords have control.

But regardless, when I pressed about the loan modification she had zero information about what makes me eligible and did imply that although right now a simple 3 month forbearance was on the table "no questions asked" the loan modification would be subject to review. 

It is definitely a difficult decision on where to start, but I think the best thing you can do is outline your investment criteria, and start building your network. 

Subject line - [Inpsections] -[Permit Number]-[Type of Inspection]-[Date for the inspection]Currently, city has 8 external inspectors they are working with so when you send an email they will come out based on schedule availability and conduct the inspections. 

Hence the subject of the post.  

@Courtney Buck thanks for outlining your approach.