I just use 8.3% for vacancy (1 month/year), and 10% for repair/maint.That's all included in the 50% rule though. $2580 * 50% = $1290 - $550 = $740/mo / 3 doors = $246.66 each door.That's legit :) From a numbers standpoint everything looks gravy.

I think this is the FHA rule maybe.Appreciate any input.

I bought the home for $8,500 cash, cleaned the carpet, painted some walls (a rule of mine every time I re-rent or sell a home to give it a fresh smell) and about 2 weeks later the home rented for $650 per month.

Any negotiation is an attempt to justify a price or benefit in your favor.

Conventional should not be ruled put any property unless it is a tear down.

Michigan law is 30 day notice, Florida may vary but there is rules regarding notices.

It's a pain in the neck, and being a government loan there are a lot of rules and red tape - but if it can give you a huge step up and some equity/cash flow - i'd do it.

Their lender says they can't underwrite the mortgage because there have been multiple title transfers and HUD rules say"no pattern of previous flipping activity for the subject property as evidenced by multiple title transfers within a 12 month time frame".How to other wholesale deals get around this issue?

I am aware I will need to look at local zoning and I am working on that but is there a min/max size as a general rule.

Hello BiggerPockets Community I am from Milwaukee, WI and a lot I read about wholesaling comes from either the East or West coast and I am not 100% sure the same rules apply here in the midwest as I am always told.