House flipping attracts countless business people like you, but not all of them make a profit.They make preventable mistakes.

However, as the title agent is specified by the bank in REO transactions I have found it easier to write a first and second mortgage than to try to convince the title agent of their error and jeopardize a very attractive purchase for my borrower.

Yah, I might have a personal attraction to carpet in bedrooms and I should dispose of that.

I doubt you'll have any problem attracting capital under something akin to your proposed structure (with or without the proposed tweaks).

As long as the seller is breathing and can add 2+2 I'm OK.

Clearly by normal standards this wouldn't be a good deal, but the fact that my living expenses are covered for, this makes this an attractive offer.  

@Sherwin Vargas Take a deep breath.  

The figure might be "made up" in that case.All in all, the bottom line shows an annual ROI (return on investment) of approxmiately 10%:Annual Profit: $4200 ($350 x 12)Cost to close: $42,800ROI - $4200 / $42,8000 = 9.8%That's not all that attractive for what I would consider fairly risky - multi-tenant is higher risk than single fam, in my opinion.

If you are going to buy and hold, how attractive is the neighborhood to attract renters, what are the rents, how is the neighborhood kept up, are you getting a good return on your investment and what is the condition of the homes on the street?

Brian, With your background, it might be a more productive conversation here to back into what might be attractive to you rather than trying to fish.