If you don't mind me asking, what are your numbers in terms of max "all in" price to market rents?

Also, we are still uncertain on how to properly evaluate a geographical area in terms of appreciation/vacancy.

My recommendation in Paterson in terms of areas to live in would be the Hillcrest section and potentially South Paterson section of Paterson, NJ.

Curious -is there a benchmark set by the IRS in terms of interest rate on property financing - for example could a seller agree to zero % for higher sale price perhaps . . then the loan is secured with the seller in first position - it's recorded, etc . . is there anything about doing a 0% interest rate on a recorded mortgage that is going to p*&^ off the IRS?

Of course, their real estate deals are covered by the same safeguards as conventional real estate loans but, in terms of unusual investment deals, hard money lenders are infinitely more flexible than standard lending institutions.

What should I ask for in terms of seller financing, what is a typical agreement?

In terms of what you'll need: - signed disclosures (authorization forms, etc) - most recent 1 months pay stubs - 2 months most recent bank statementes - 2 years most recent tax returns and W2's - fill out an online application Depending on your circumstances you might have more items such as letter of explanations, divorce decree's, mortgage notes, income verifications from your employer or rental verifications from your current landlord, etc Hope that helps!

I want to build this fairly cheap (in terms of design, not quality).

A good follow up plan for the non-payers in terms of legal process will also put a message on the streets.Kansas City unfortunately has several PM companies that do not provide a high level of professional service.

Ann Arbor is a pretty interesting (i.e. challenging) market so I'm hoping to connect with other folks in the area and develop mutually beneficial relationships.This community has really impressed me in terms of people being genuine and helpful and I'm looking forward to becoming more involved.Cheers!