The balance is around 1.9 million. and the loan is assumable To my understanding a TRUE subject two does not require ME to put any money down, but actually he could pay me or simply walk away from the loan correct.

What steps should I be taking to make sure I have all of the legal and clerical things done correctly in order to make the deal happen.

Thank you Jen,So you are saying to not add in a "first right of refusal clause", instead I should just release it, correct?

If I understand you both correctly, it sounds like the best for me now is to rent it for at least a year or so, then possibly sell the third year.

I hope you're correct on the electric change.

Now that is $1200 for each unit on the first deal and $1150 for each unit on the second deal is that correct?

I believe your statement stems from your personal bias in that you mke money setting these up for clients, correct?

A mortgage broker told me a few days ago that on a NOO property (non owner occupied) most banks require 20-25% down.Thats correct!

Take Care, That is correct.

A $60k investment does not have $1400 in PITI.Second, if the total rents are $1200 and you buy at $60k, you have obtained the 2% rule which will gurantee cash flow if managed correctly.