For instance a rental house would be evaluated completely different than a wholesale property (selling the contract to another investor).My formula is this for wholesales: ARV (After Repaired Value - the value of the house after all the repairs are made and it looks great) minus Rehab (whatever rehab is needed to bring it back to look like the other houses selling on the market) - BSH (Buy/Sell/Hold costs - the expenses associated with buying, holding, and seling the property.

I have no SSN, no FICO - nothing in the USA yet :cry: But I believe I can get a 70% LTV no-doc commercial loan on the strength of the asset and the rental income, which is a great start.I'd like to borrow the entire $2M, not just the $1.4M, and I have an associate who is willing to offer up his equity in an Australian commercial property to secure the entire loan.So, if I can offer $3M of security - being the $2M US (Texas) multi-family, and $1M of equity in an Australian commercial property - are there any lenders out there who'd be willing to lend the $2M needed for the Texas purchase?

The ones I held as rentals are a huge pain in the butt.Based on my own experience and the experience of several experienced investors I associate with, here's what's likely to happen with that house should you choose to buy it ... 1.

Much of that can be traced back to the area bankers association and management's view as well as a few local attorney's opinions.The reasons why goes way beyond what gurus or others may think, concerning interest rates and the note being paid.

An associate of mine charges 7% and she doesn't negotiate much.  

Further, you must know what the lender considers a viable deal - and be willing to pay for the appraisals and exploratory costs associated with your first deal with most lenders.

., its not a dollar amount issue, it costs the seller allot more to hold the property/risk associated then the value. you could probably offer a box of chickens and close on the house (seller would probably get the better deal in that situation). lots of houses in my area and many others sell for less then $10k. havent seen one that I would touch  with a 10' stick even if they were free, similar to Detroit, a free house isnt free. in most cases it would be cheaper to buy a 30k house then it would be to buy a 1k house if that makes any sense. 

Below are some other meet-ups I go to regularly.San Antonio Real Estate Investment Associationhttp://www.sareia.com/Alamo Real Estate Investors Associationhttp://alamoreia.org/Real Estate Investment Association - San Antoniohttp://sanantoniorenc.com/SA Cash Buyers - Thirsty Thursdayshttp://sacashbuyers.com/"

I was thinking of online brokerage like Premier Realty Associates and others.

If it's not a recent conversion, you need to check your docs and figure out what the association is responsible for and what the unit owners are responsible for.