They will have more experience with all the paperwork that is required for this financing package.To purchase and finance a home through Fannie Mae with more than 4 existing financed properties, investors must meet all of the following criteria:* Make a 25 percent down payment on the property; 30 percent for 2-4 unit* Minimum credit score of 720* No mortgage lates within the last 12 months on any mortgage* No bankruptcies or foreclosures in the last 7 years* 2 years of tax returns showing rental income from all rental properties* 6 months of PITI reserves on each of the financed propertiesand to reduce fraud, *you must sign a 4506-T -- a form giving lenders permission to verify your submitted-with-the-loan tax returns against the official, IRS-filed version of the same.FYI: For refinances, loan-to-value is capped at 70% for all property types.

Verify the deal on the other end.

If you don't believe me check out my Facebook Page Verified Primary Tradelines.

In order to make my job easier I let them handle the details then I just use the info they have and verify thats its fact by making calls and such.

The key is, we were honest that she could get more for the property (which I'm sure she already knew, but it verified we were also looking out for her), and made her think about the details of the work that she'd have to do if she was going to rehab it herself before she listed it.

You verify that the name of the "tenant" on the lease is the partner.3.

They told me they always pay their rent, just not their other bills, and I verified this to be true.

If it's a good deal as is, get pay oops to verify, then buy it.

She gave the contact info for the lawyer for us to verify.

All units were 6 months and now month to month.Here are the numbers I came up with have not yet recieved Schedule E or Rent Roll:Potential Income : 26,400 - (8% vacancy 2112) = 24288 (using current rents)Expenses: Tax 1309 (verified at asessor), Insurance 1819 (today's quote), Water 2880, Trash 1200, Lawn and Grounds 500, Repairs/Maintenance (assumed 10%) TOTAL: 9148NOI: 15140If I use VA the loan will cost me 1% for VA funding fee, and about 3K to close so I will assume 10 K to be safe.If he will take 220000 for it, loan will cost me 12,449/year leaving 2,691 in cash flow.CoC Yield: 2691/8000 =34% CAP Rate: 7%What else do I need to consider?