Most often, you will get a no at first.

It really shouldn't be, but then again, we shouldn't have trillions in national debt either.With your own cash amount and the very low LTV, it should be a no-brainer.

When you buy a REO or a short sale, the selling bank will typically insert a "no assignments" clause in the contract.

I have already begun building a team and in the event this particular deal is a no go, I have every intention of following thru and getting myself into some type of multifamily property in the next 6 months.I have a friend that has picked up 30 rental units over the last 4 years in this market.

You can't buy another HUD house an O/O until 2 years after you bought the first one.

It's a no brainier to avoid the vacancy and turnover cost

I will either offer a no rent increase or a minimal rent increase to resign a year lease.  

@Bo Kim I had the fortune of already owning a very similar unit in this complex so it made this purchase a no brainer.

its a 1.75%  deal, that 42% ROI is based on your down payment amount, 1.75% is pretty good especially for a no value add deal, a couple things tough, there is no vacancy in the figure, with 3 units you will have some vacancy, also reapirs and maintinance, and what is the liquidity of the HOA and potentil for a large special assesment in the near future like a roof, sidiing windows, Pool repair ect. 

I really wanted to avoid HELOCs when we first started out because I didn’t really understand them but after really looking in to cost and potential return it became a no brained for us.