This is for my moms house and she is a non-believer of being able to afford rehabbing her home because she is not asking the right question of "how" can she afford it vs just saying she can't. 

@Benjamin SussmanFor real estate, it is when your exposure is so high that if a few renters stop paying you can’t afford to cover your expenses.Example:Let’s say you have W2 income of 5k / month (net)Your expenses are 4K a month so you have our 1k left in your pocket every month.

But they are strict due to the lack of affordable housing here. 

Sure, within the next 12-24 months there may be some great deals coming on the market at owners who purchased a bit too thin on the cashflow find themselves crunched and suddenly motivated to sell, but that's kind of irrelevant when you're looking to buy a primary residence which is a decision most people make more for the emotional/stability reasons than for the cold-hard investor reasons.Main question to ask is can you afford what you want.

It was affordable, in a great location, and small enough to improve/furnish on a budget.

After several deals I could afford to do a contract for deed with him to live in one of my properties, I pay that living expense in exchange for labor every month (rehabs on properties and maintenance on existing properties).

I manage my own rentals in both collier and lee county but if you ever find a decent PM down here that is actually affordable let me know :)

If I have to wait 5 years to find something that works, I'm willing to do that.If you find an awesome lease for a fair price, I'd sure entertain the idea though.

I can't speak for others, as to if they would lend that amount, but I do private lending in NJ and I would definitely entertain this loan.

-Affordability - Meaning how affordable are the rents compared to the average income.