Hey BP fans, I wanted to get your opinion on something.

My clients buy apartment buildings and triple net properties but you have to have much larger liquid cash to play in that space which is why many on BP focus on the little houses.The barrier to entry for houses is much,much cheaper.I am not a fan of having little houses all over creation.The logistics of keeping all that together is very hairy and I have heard of a few investors doing decent with it but many others have nightmare stories and outcomes.The biggest mistake I see is an out of town investor using a broker/agent who does managing on the side.They do an okay job for awhile but then when a regular sale comes along they let your property slide.You want a professional company that does not have a divided interest and only does managing.

If you are finding good enough deals to hit these numbers, then I think you're fine, but it would take around $1,200 of gross rent in your given situation here, to hit 1.75 DCR.And it's true that cash-out refi's are not permitted on Fan/Fred loans 5 to 10, unless you use the delayed cash out financing rule.

I've seen groups partner with a non-profit, the non-profit buys in their name, the operating partner does the rehab, provides the capital, and deals with the resale, and the non-profit and operating partner split the profits in some manner.I'm not a fan of option 3 but it's a creative trick.

Brad is a good guy and he knows his stuff I know him from our local ACRE meetings, I however am not a big fan of paying money for items most people can find for free online like leases and other investor documents.I have not looked at or used his materials, I guess it would depend on the what you wanted to accomplish and if you need some legal help then his materials would be cheaper then using his services most likely.It seems like everyone is coming out with their own systems and charging an arm and a leg for them, I heard the flip this house guys were asking for $50k for their system so $99 might be a bargain.If you find a good agent that knows what they are doing with investments most of the things you will learn they will help you with as part of their commission like finding the right property.

In your area you may want to do ceiling fans with light fixtures too.

Robert,I am not a fan of Farmers and you are not the only one with complaints about them...

You can become an agent and get referral fees but you don't shoe or list houses.

Your agent has absolutely no influence in getting the trustee sale postponed.I'm a big fan of blaming the agent if *anything* goes wrong in a transaction, but I agree with the above.

Douglas Peterson I'm a big fan of zabasearch..it's a free online search..it's not perfect, but it doees the job 70% of the time...any other recommendations out there??