The 25% convention is a non-owner occupied loan and does not require you to live there

For commercial, you'll actually have to call local banks and establish a relationship and explain who you are and what you're doing, etc.The final point i'll make about your strategy is about recourse: typically, residential loans are "non-recourse" which means that they are collateralized against the one property, but not  your other personal assets.

Our title company does not close any of our deals until they receive the "special assessment" reports which will outline any fees charged by DNS(dept. of neighborhood services) for code violation non-compliance, special work done around the property etc....

this is an auction .com property subject to overbid.. the chances of you getting this for that price are slimnot only that you will need non refundable EM of at least 3% and you have to close in the name that the contract is in.. no assignments this keeps the wholesalers at bay.. properties just don't sell that deep of discount in the uber hot Portland market.. at least not on MLS  heck lots sell for 100 to 150 k with nothing on them :)

It can even expose you to IRS penalties for non-compliance.

The advantage of having an up-to-date RE accountant, is that they can help you strategize utilizing tax benefits, that a non-specialist may not even be aware of.

I invest in notes and for my non performing notes there is a decent amount we end up foreclosing on.

I am looking into purchasing my first property in pittsburgh and rent it out as long term investment.I have following hopes/strategies:- Safe area (B/B+)- Reasonable cash flow- Good appreciation potentialI am thinking following locations (which can totally be non sense)- Attract high income workers (close to IT hubs?

We normally get it as a credit, unless it’s held by a 3rd party(pm).You can consult the lease agreement for each tenant, if the LL says someone only paid some or non, you need to get estoppel forms signed by both the LL and tenant, or just risk owning the tenant money they never really paid the LL.

If you want a non risky challenge try and find a deal to wholesale, it has been hard on me so far and new pockets of chaos keep popping up in my pursuit of a first deal that have taught me how difficult it can be to find a good deal or do real estate.