And if they will agree in writing that they will leave and terminate the lease by Sept. 30th, they do not need to pay the rent as you will be using their last month's security. 

Don't think I've got a choice on that.Feeling passionate about how the situation is lame is totally reasonable.  

This single document is your greatest asset in securing an investor or bankfinancing.

Im $140,000 in debtNOI:  $6,944.00Cash on Cash ROI:17.56%Monthly Cashflow:$439.09Income-Expense Ratio (2% Rule):1.96%Total Initial Equity:$94,000.00Gross Rent Multiplier:1.89Debt Coverage Ratio:4.15Purchase Cap Rate:27.78%Pro Forma Cap Rate:5.79%

Purchase price: $125,000 (assuming offer is accepted)Down payment: $25,000 (20%)Financing: 30 yr @ 5% = $540 /moInitial rehab: $5,000Closing cost: $2,0001st yr Insurance: $1440Taxes: $120 /moInsurance: $120 /moVacancy: $150 /mo (8%)Maint/Cap-Ex: $270 /mo (15%)TOTAL EXPENSES: $1200Rent: $450 /unitTOTAL INCOME: $1800Cashflow: $600 /moCash on Cash: 21.5%Here is a link to the listing if it may provide more insight:Quadplex ListingThe unit is located on a decent street in a very small town (<10,000).

Not too sure on the jurisdiction in the part your 4-plex is in but I would totally look into. 

Looking for advice on how to obtain a secured (using property) non-income verification type loan for the purposes of renovating a non owner-occupied second home that is owned outright in order to to turn it into a short term/vacation rental (thus utilizing those projected funds for repayment).I've looked a lot of options (mostly from conventional lenders) but 99% of them want to see tax returns/proof of income.

We are buying two full rehab homes for <$25k in total - our strategy is going to be to fund the rehab with a hard money loan, build equity once the rehab is complete and then refinance the homes to get out of the hard money loans. 

As security deposits are the tenants money, it is not necessarily a perfect solution to ask the seller to cover these amounts, but it also creates great risk on my end if there are no security deposits in place. 

Hello, I wanted to get some opinions/critiques on possibly what I could have done to secure a deal, that is still possible in the near future.