Hi ChandraIt depends, it this your first investment property or your first primary residence?

Either way, you're in a great position to give yourself options for the future.You're doing right now what I want to accomplish in the next 18 - 24 months.

Were not completely green behind the ears, We know the Seattle market is tough, but with being in the military, I am no stranger to adversity or a challenge.

Title companies do not cast judgments on these types of deals as long as they are arms length.. your risks are the bank gets wind of the transfer and calls the note.. as long as you have the ability to refi or pay it off.. to protect the 15k or so you going to put into it.I don't know about UTAH but there are some very tough rules in OR and WA when dealing with someone in foreclosure.. is this their primary resi or investment? 

It's certainly ideal for both you and the lender to have 1 year leases, but I can't remember a time when the terms of the leases had an adverse impact on the loan.

I've lived in my current residence for 10 months and plan on purchasing a new primary residence (multifamily?) 

But first I need a primary home in SoCal. 

I have also heard when going to a local bank to get a portfolio loan you should have a business plan to show the lender and convince them that your investment will produce positive returns resulting in a low possibility of defaulting on the loan. 

.#2, to change your current position, you need to make your fist step forward, meaning, entering into the game#3, you have all the answers, you just need to listen to yourself.My name is Tomer, I'm investing in Tucson.I live in Israle, small country in the middel east.I operating in Tucson for the last 2 years, flipping houses and wholesaling, I'm not doing it by meself, I have an amazing partner that together we form a wining team. 

Mike Dymski Random unrelated question after looking at your profile...Do you feel that you're in a position to retire with your 34 rental units?