I am having trouble finding properties that will rent out for more than the combined loan payments, plus maintenance, taxes, etc.I am only interested in houses, RV parks, mobile home parks, apartment complexes, and hotels.

Here are my statistics:Rental PropertyPurchased: $100kBalance: $76kLoan Terms: 30 year, 4.564% ($389/mo)Renting for $1300/mo with approximately 50% expenses ($115/mo profit)Primary ResidenceLoan Terms: 15 year, 2.969% ($610/mo) with $390/mo for taxes/insuranceBalance: $65kI want to buy more real estate, but I don't think we would be approved for another loan with our income limitations.

They are out of Lake Mary, but are mobile closers and are TOP NOTCH.

Do I need to have a real estate agent for legality reasons when paying cash up front for a mobile home?

The attorney (trustee) and an accountant on the seller's (my side) have fees to cover however this home is a short sale and I've never heard of a lender accepting the fees of a trustee and accountant as part of the short sale approval.

Hi BP ,It's been a month , My buyer was approved by the PM and the board is taking is time .I heard they have up to thirty days is that correct ?

60/40 works. just would have to find someone out of the area. id be more of a property manager.the other 2 properties are rented out and i claim one on my taxes but the other my sister claims. i just started reporting the income for the 2nd property this year so im hoping by next year if i show a 2year history on both ill get approved for another loan.

Since I will be accruing a large amount of debt, and I will not have a steady "income" I doubt I will be able to obtain approval for a mortgage on my own.  

This is not legal advise, but Here is a link to the form approved by Scott County Iowa for providing the 30 day notice.

An Agent has been working on getting a short sale approval for you, the Buyer, for a year and a half?