@Simon Shih homes sales have fallen and the inventory of houses have increased.

Should I now go talk to banks about a conventional loan for "livable" houses or a HML for "non-liveable" houses to get pre-qualified (from what I have been reading, banks will not lend on houses that are not in decent condition) or should I try to get a deal under contract and then seek financing? 

I will talk first about short term factors and then long term factors.Short Term Profitability We are able to consistently find properties which generate between 4% and 8% (assuming 20% down conventional financing) using the formula below.

hi, my name is Manuel. I live in mexico in cancun. I'm very interested in real estate as a newby, and i m still getting as much education as i can, reading a lot of books. But most of them are written for american con...

Is anyone aware of any lenders that will give "conventional" financing to an LLC?

@Dan GreenIf you house hack and live in one of the units you could get into a MFR - up to 4 units with just 3.5% and you can ask the seller to pay up to 6% closing costs, with an FHA mortgage.If it is strictly an investment purchase you can get in with 25% down and ask the seller to pay up to 2% closing costs, with a conventional mortgage. 

You have to have 20% equity in the property to avoid PMI for conventional.

The IRS considers my house as inventory since I am a dealer.

I don't intend to, but I'm still getting used to things here.I've been preapproved for a conventional or FHA loan of $200,000.

It used to be a mandatory waiting period, and the other traditional/conventional loan programs still have a waiting period.For Freddie Mac now, it's "No waiting period with LP approval."