in the U.S.A) you could get the same rate as a residential mortgage.We also have lenders in Canada who are writing 5-6 unit buildings as residential ... essentially, their valuation is too small to be of interest to the commercial lending departments.  

I have a deal in the Delta School district.

the term "subject to" essentially means that they are giving you title to the property subject to you paying the PITI.  

So I'm back to square one essentially with over-analyzing how to do creative financing.

@Chase Gu 2-4 unit properties do not trade on cap rates, but if you were to measure them the District would have a lower cap rate in spite of the tenant friendly laws.  

If you offered over asking (or essentially asking price) and there are no other offers. 

My title company said as long as the attorney's representing the bank sent the IRS a letter letting them know about the foreclosure and it will essentially go away after the redemption period. 

"large yard", "pets allowed", "XYZ school district" (if it's a good school district)People also tend to like when all the bedrooms are all on the same floor, something that college kids sharing a house, for example, wouldn't care much about.Be careful not to say things like "safe area" (that's not your place to say) or "close to elementary school" (could be considered steering)

If you wanted to, you could teach them to search the property address on the appraisal district website, so they can also get you the ownership information so you know where to send your letter of inquiry.For something of this scale, and these are friends of yours, I would keep any contract you write very simple.

They may not like the idea of essentially self-insuring damage caused by the plumbing.