. #3 The purchaser of the property and making the payments on this note, (myself) can afford the monthly payments because of the rental income.

Hey All - we recently purchased a multi family unit in the St.

I am interested in purchasing a rental property in the Houston, TX area.

Given that purchase price is low it is hard to use the property as collateral.

Hey Catherine,We classify it as a 'Delayed Purchase' and set it at 80% of purchase price. 

Purchase price: $40,000 Cash invested: $45,000 I found an investor that was finished with real estate and had only a few properties to sell.

I responded to her FSBO ad and made my offer which she happily accepted: a 36 month lease option; I'll bring her mortgage current, (1 month, $800), and continue making the monthly payments; option to purchase price of $88K, (my estimate of value, $100K); and I had the right to buy, sell, sublet, or assign the property at any time during the 36 months.

He was my roommate before I purchased additional rental units.

Ask for that off the purchase price or however you see fit, or kill the contract.

Been speaking to realtors but just looking for solid online resources I can also utilize.