It’s easier to get a conventional loan accepted than a VA loan, all other things being equal.

Setting yourself up to take action for investing is an equally powerful move to make during preparation.  

I lowballed the offer based on what I learned here about max offer price equal 70% ARV (Thank you BP) and gave them until Friday to respond.

This is a lot of work for $3000.My belief is that spending that much time on wholesaling will net me considerably more per deal.

you would shoot for $6000 in rent to equal the 2% rule. then go on to figuring 50% rule for the operating expenses (exclude your P&I).Leverage is a beautiful thing; put 20-25% down & get a loan so that way you can buy more properties, have $ for rehab & an emergency fund.evictions - just screen people hard. sometimes bad things happen to good people but you have to be proactive & (again) lucky.

I also don't think I have time to get a HML in place.I had to compete with two other offers one was 5k below mine and one was equal to mine but the executor of the estate went with me b/c I waived my right to a home inspection.thx again for the input!

Say you buy a home for $50k with no rehab costs (if there were rehab costs, you add them to the purchase price. 2% rule says you need to get MARKET rent for $1000 (so double purchase price).50% rule says your operating expenses (property tax, insurance, vacancy costs, legal/eviction costs/management fees, repairs/upgrades - basically, everything but intestest & principal) would equal half of your rent.

This is equally important to the dumpster to prevent mold/mildew, etc.All exit strategies back on the table.

Brokers are not all created equal though and some will not spend much time on your policies.

Contrary to popular belief, there are great rental markets in California!