The title should say it all!

Is 0.75 multiply against what is charged for rent for the month or is multiply to the cash flow I get after I subtract all expenses such as insurance, taxes, and paying the existing home mortgage?

It is going for 109,000 I want to try and get it for 90,000.Monthly gross rent-$1650Expenses Tax-264 a monthWater- 100 per month estimatedHeats-100 per month estimated insurance-100 per month estimatedvacancy-115.50 (7%)Capex 82.50 (5%)Repairs 148.50 (9%)Management 165 (10%) P&I 386.51Garbage 50 per month estimatedTotal 1,511.68 Monthly Cash flor 138.32COC- 6.64% Pro Forma cap rate-4.84%purchase cap rate- 7%2% rule 1.70I don't know if the seller would accept 90,000 but its a smaller place needing updating and has been on the market for about 130 days.

I need to buy the lot cash or find some sort of loan that does not require insurance.

If the deal is solid, and you as a borrower meet the basic lender's qualifications, the process should be pretty quick and easy.Get the properties under contract, collect all of the information regarding the deal, pitch it to lenders, negotiate terms/rates if possible, and then send the package to title for closing.

Umbrella insurance is always good to get - you'll sleep better.

We can not give you more advice outside of our area as our insurance does not cover them.

.- Being paid off and after all expenses, cashflow is $2,308/month.Here are Investment Returns after calculating rents; taxes; insurance; capex; maintenance etc.The columns are: Year 1, 2, 3, 5, 10, 20, and Year 30. 

Turns out about a year ago a guidline was changed in the Freddie/Frannie regs that doesn't allow "No-cash out refis" unless one has been on title for 6 months (seasoning!!!!).

You would need a simple sales contract and a great title company contact.If you would like I would be happy to chat and see if I can help you achieve your goals.