AFTER I paid this I was sent a conditional re-occupancy certificate which basically says the city has inspected the property and found it to be gutted and it has been turned into a 3 unit property when it's only meant to be a SFR.

details hereI can' t speak to much about ARMs as I have never used one so take what I say with a grain of salt and I can only give my opinion on #2.You mentioned liking a rate below 5% and I have used aimloan.com in the past and their current quote for investment properties are around 4.65% for 30 year fixed.So as for #2: As long as your cashflow was acceptable and your goal is to acquire wealth long term and not need to live off of the income in the short term my personal preference would be 20% down over 30 years - freeing more cash for more acquisitons.  

Let's ask some experts: @Steven Hamilton II , @Dave T , @Bill Walston ...

What if step (What if I could.....)Here is an audio of that...http://www.screencast.com/t/RWOa0JodThen I do a 3 column presentation, comparing 1) the costs to sell to 2) renting to 3) selling on terms.

These days, it's not difficult to find lenders who are willing to underwrite and lend in less than 90 days -- including some large lenders like BB&T and Wells Fargo.

. , LOL, I read "New proposed law to curb squatting" much differently than what it meant!

ugh.For the life of me, I can't figure out how the people near that business can stand living next door to literally steaming piles of sh*t.

Many of your friends may be risk averse and would have heard genuine horror stories so make sure you know what you are doing and don;t become another barbeque statistic.

@Marcia MaynardWill you please describe & explain what you meant by partnering with local law enforcement to make the area better.

@Mike T. the structure of the roof is the problem it was already there when I bought the REO and I was aware of that.