@Mike Barnish, an inspector's job is to point out as many aspects of the property that needs attention or service by another professional vendor.

We try to send all our company legal, strategy, and marketing materials encrypted between us and vendors.

Once you reach a point (as he apparently has) where you have a thorough understanding of the various systems and components used in construction; all the local laws and standard practices pertaining to the rental business; the rental market and seasonal fluctuations; issues regarding hazardous materials utilized in the construction of housing, and in some areas found in the ground around housing; Federal Fair Housing, Fair Credit, Title X, EPA, IRS, and many other regs; contract law; Building codes, code enforcement, and the permitting process; subsidized housing; AND you have a team of reliable, responsible, and reasonably priced vendors to utilize; AND you have established systems and procedures that work for you, THEN, and only then, does PM become "easy".

The one I joined make frequen monthly trip to upstate and have connections with vendors there and other home buyers etc.. you can form your own "umbrella" of contacts there.

So far I have made a corporation to do business with, am working on setting up all of "business things" for that, and also looking for vendors that can help me with marketing.

Wherein the securities disposed of consist exclusively of notes or bonds secured by mortgage or vendor's lien upon real estate or tangible personal property, and the entire mortgage is sold or transferred with all of the notes or bonds secured thereby in a single transaction.

Ludmila:I presume you have calculated what it will cost you to make this property rent-ready and know the market rent for the area.With these two numbers and your "opportunity cost" you can calculate the maximum you could pay for the house and still have it make a suitable return.Where does that number lay in relation to the Vendor's asking price?  

We invest in Indy on a retail and turnkey basis with a high volume vendor that we have been very happy with.

We have monthly meetings (except during the summer months), annual vendor day meetings where tons of free stuff is given away, we receive substantial discounts at our local vendors (including great discounts at Home Depot), access to our apartment listing website ithacarents dot com, but our best resource is our listserve.

If the building can qualify for a CMHC insured mortgage and you can convince the vendor to carry a second mortgage of 10%, you may get away with a downpayment of 15%.Sounds like the mortgage agents were thinking about a home being bought by Dick & Jane using a high-ratio mortgage ... a 5% downpayment on a conventional mortgage would only be available on a SFH or duplex if you were to live in the property.