The landlord may not let them out if they think the building needs a bunch of work to re-rent with time and money.Really BK doesn't need you to work out options with the existing landlord.

I know that the numbers in this deal will work out, because we're most likely going to get the property (or properties) at a very low price.

It takes the guess work out of knowing where we are in the cycle and the smart financial decisions to make.It has made and saved me a lot of money and allowed me to survive the big downturns.

If the numbers work out, everyone wins.

It will get you in the game and if for some reason it doesn't work out, you can sell the single family fairly easily.

My experience with individuals on SSI is it can work out just fine but you should push them to put their account on auto debit.

Actually that's what I did, I told the laywers that it wasn't to work out (they weren't to happy!)

The other consideration is if you have to purchase with out rental income that means you'll have to qualify for the entire payment of all your net rents, primary, subject property you're trying to purchase with out any rent offsets, and other obligations (car's, CC's, loans, etc).Hope things work out for you.

That's like rewarding failure.I read another thread where I see that 7-10% is still the norm and 12% is for labor intensive properties.Any help or recommendations would be greatly appreciated.

If it doesn't work out well with him, or the numbers don't make sense, then I guess I'll hit craigslist hard with lowball offers left and right tomorrow and get this ball rolling.