You could do it at purchase price, but if you find it rents at 1% of purchase price, and you do some repairs, it'll only lower your percentage, so it would really only hurt the property's performance

This may mean stretching your budget and/or borrowing funds from someone to be able to put more $ down or go up in offer price.- submitting proof of funds with your offer (i.e. bank statements)- including as few contingencies as possible on the offer/contract (i.e. inspection, appraisal)- purchasing the property 'as-is'.

Please share your reasoning for investing in single family homes vs apartment buildings.If you are a multi family buy and hold investor and I had a 10 unit single family performing portfolio in Cumberland County, PA what factors would spark your interest?

This property is priced based on future performance, and it currently does not meet the 1% rule.

Not sure what they have now Auction Financing Program 65% LTC / Winning Bid65% Loan To Cost10.5% Interest Per Annum3 Points12 Months termsLoan Extensions AvailableNo Pre-Payment PenaltyBusiness Purpose Loans OnlyValue AssessmentRehab Money If NeededProperty EvaluationEducational Courses

Last year we bought a triplex in Joplin Mo and planned to do and extensive rehab and rent it out.

I recently looked at purchasing a foreclosure though Hubzu there and it ended up going for nearly the same price as comps tthat didn't need the extensive rehab this one needed.

Sometimes the seller will want more earnest money for an extension. 

The bank (foreclosure property) accepted my bid after some negotiation in large part because of the diligence I had done to understand the work that needed to be performed on the basement.

One work around to the DTI issue is to go through commercial lending which would doesnt care about you as much as the actual performing asset.