Wherein the securities disposed of consist exclusively of notes or bonds secured by mortgage or vendor's lien upon real estate or tangible personal property, and the entire mortgage is sold or transferred with all of the notes or bonds secured thereby in a single transaction.

Amish food.

Ludmila:I presume you have calculated what it will cost you to make this property rent-ready and know the market rent for the area.With these two numbers and your "opportunity cost" you can calculate the maximum you could pay for the house and still have it make a suitable return.Where does that number lay in relation to the Vendor's asking price?  

We invest in Indy on a retail and turnkey basis with a high volume vendor that we have been very happy with.

We have monthly meetings (except during the summer months), annual vendor day meetings where tons of free stuff is given away, we receive substantial discounts at our local vendors (including great discounts at Home Depot), access to our apartment listing website ithacarents dot com, but our best resource is our listserve.

If the building can qualify for a CMHC insured mortgage and you can convince the vendor to carry a second mortgage of 10%, you may get away with a downpayment of 15%.Sounds like the mortgage agents were thinking about a home being bought by Dick & Jane using a high-ratio mortgage ... a 5% downpayment on a conventional mortgage would only be available on a SFH or duplex if you were to live in the property.   

LOL, everybody seems to think that I'm saying we should live like the Amish for the sake of our retirement accounts.

Although I haven't personally purchased property, I have experience with multiple successful property acquisitions and gained rapport with reliable vendors in my area. 

They also have connections to vendors that a new flipper may not have, with deep discounts from multiple use.

I have been to many of the events as an invited guest or vendor on the finance side when a student wants to buy a rental etc.. they are actually pretty fun things to go to.. and like with all big guru events i think one out of ten will go off and do something with what they learn.. maybe less.. but thats the same with all real estate be it sales or those that pop on BP  there are 500k people on BP i seriously doubt 500k of them are active in real estate