Sometimes it's their rules because it's their contract.

I was extremely naive about my numbers (hadn't yet heard of the 50% rule) and put loans on most of my properties.

You should read up on the 50% rule and the 2% rule here on BP for starters.

Next, you must keep records of repairs that indicate odometer readings as in an audit the IRS WILL ask for them.If you have a home office, the rules are strict.

You might be better off using an eviction service.They will be cheaper and go to court for you and handle the trashing out and serving of the eviction.You won't find an attorney getting dirty they will just shuffle papers and show up in court.In fact I have had judges rule against attorneys and enjoyed our cases much more as we were on the ball.Some attorneys feel "special" just because they hold a law license and are below par in their performance.I tell them the eviction is filed regardless of promise of payment.I tell them you can always pay at the court hearing and I can drop the case.If you don't you will get stories like I can pay you 600 and get caught up this week and then you hear stuff like I only have 300 because such and such happened.Then they get further and further behind.They need to pay me in full and go cold with the utilities,or do without internet,cell phone,cable..

The counties want their money and they don't want to have to wait and hold a tax lien certificate sale to get their revenues.So by setting the rules where most lien holders are behind tax liens, they force mortgage holders to have a vested interest in the taxes being paid each year.As a former FDIC Liquidation Analyst (back in 1984) I handled loans that the FDIC was stuck with from failed banks.

Asking Price: $154,000Purchase Price: $115,000Down Payment: $23,000Improvements: $5,000Closing Costs: $2,300 (2%)Total Cost: $122,300Cash Outlay: $30,300Interest Rate: 5.8 (built in buffer, not sure how much higher rates are for investment property)Mort Type: 30 yr FixedMort Payment: $540Type: DuplexRevenuesRental Income: $1,900 ($950 x 2) Monthly, $22,800 AnnualVacancy: -$133 Monthly, -$1596 AnnualNet Rental Income: $1,767 Monthly, $21,204 AnnualExpenses: $10,400 (46%) close to 50% rule with deduction for no property managerProperty Taxes: $2,300 (based on zillow?)

With the 50% rule I think the ROI is 7%

A rule of thumb is that if its obvious, the bank won't do anything about it.

financing is the biggest headache I deal with,,most of the guidlines you are talking about aren't with the bank, but with Fannie,, some of the rules make no sense,, and one mystake can make it so that you can't go conventional, but there is always a portfolio loan from a bank (a loan they don't sell), but you won't lock in the rate for 30 years