This can be an extremely time-consuming and frustrating process but needs to get done.Borrower Calls – Once the servicer finds your borrower, they’ll make scheduled collection calls notating what transpired and what actions need to be taken.Collection Letters – A variety of collection letters are mailed out based on the delinquency of the borrower.Borrower Statements – Print and mail out monthly borrower statements.Incoming Funds from Borrowers– Any incoming funds from the borrowers will be received, recorded, and distributed to the investor, less the servicer’s fees.Year-End Tax Information – At the end of the year, the servicing company will print out all eligible borrowers who have made interest payments greater than $600.

Lots of variables to take into account here:- credit, ltv, DSCR score (based of rent / anticipated PTIT(A), experienceAre you looking for a purchase or refi transaction? 

This varies based on credit and loan to value, but most of my client have not had to pay points. 

Expectedly, lenders will qualify the borrower based on the principal and interest payments of the twenty year amortization at the qualified interest rate (usually prime plus 3-4%).

So I bought this house back in January, and I fixed it up over the summer. it is a 3 bed 2.5 bath built in 2006.

Think the 20 gallon WH would keep up with 1-2 ppl living there? 

1) All of the spaces are the same and the one unit is higher in rent because it was a month to month and the owner raised the price because it was a travel nurse and was on a month to month lease. 2) The owner is saying I could easily bring the prices up to 2150-2250 per unit and keep it at long term leases to make it easier to manage. 

In my first contact with him (via email most likely) should I bring up wanting to purchase his home ?

At the time it takes to get an eviction in CA, the utilities can add up to a significant amount.  

So I didn't go into light heartedly.