He worked as a mortgage broker for years, so he understand that aspect.What we trying to accomplish is for him to be able to become an acquisition manager, learn the different methods; cash purchase, owner financing, subject 2, lease options, JVs/retail price, etc. 

As far as I understand from speaking with her, the lot has been cleared of an old house that use to be on it some years ago.

As far as I understand, you must move into a unit within 60 days if you're financing with an FHA loan.

I think anything you do will look odd / not match  but brick infill not matching people will understand. 

I do understand what you mean about slowing down and counting my cash flow.

I understand that the rules would help you determine if the property cash flowed and that the 2% one was used first, while the 50% was used more like a final factor (in the example).What doesn't make sense is why the property was deemed a bad idea, wouldn't the fact that the 50% rule gave 0 cash flow (rather than negative) mean that the investor would still be able to make money on loan pay down?

Any tips, suggestions and referrals to REIs who have a good understanding of MFD market in Union County , NJ, as well as property managers, would be appreciated.

My understanding is that the property owner needs a written document about the transition happening.Is there any standard procedure (e.g.

I understand youre not a lawyer but id appreciate any feedback on this.

I understand youre not a lawyer but id appreciate any feedback on this.