A used house that can't be rebuilt for the same price might be a good bet.

Hello, I'm brand new to notes and wondering if these look like good deals.Non-Performing - #1 - Principal Balance - $30,062.77 at 11% purchase at $8k - ARV - $135kPerforming - #2 - Principal Balance- $155,745.61 @2% purchase at $60k - ARV - $100k#3- Principal Balance - Principal Balance $119,062.23 @3.5% - Purchase price $60k - ARV - $135kThe benefits I think compared to rentals is that there is no tenants, but I'm not sure if banks are willing to refinance notes since I know banks are willing to refinance rental property?

Perhaps it is 75% of purchase or 75% of ARV if you plan to refinance after renovations.Then do as Jon Holdman said.

We should have started some kind of betting pool -- guess the next applicant or something.

Some lenders will allow you to refinance multiple properties into one loan.

Put 20% down, or less if want to go FHA, and get a 30 year loan.The reason for this is your rate will be better if you purchase with a 30 year mortgage than it is if you refinance after your purchase.Can you qualify for a mortgage?

I suggest you identify the lender who will perform the refinance FIRST ...

MRE's might be your best bet based off your criteria.

Some lenders will do a cash-out refinance after you own the property free-and-clear, and some won't.

Should he refinance or take a loan against his 401k?