I'm the idea guy, but stink at Operational Excellence...The type of idea-- 1+1 = 3.

Gross Potential Income $132,000 - Vacancy ($10,560) 8% - Concessions, Loss to Lease, Bad Debt $0 Effective Gross Income $121,440 Other Income (Laundry) $2,500 Total Net Income $123,940 EXPENSES Real Estate Taxes $12,500 Insurance $0 Contract Services $2,190 Trash Removal $0 Electric $0 Gas $0 Water and Sewer OR All Utilities $37,500 Legal $1,000 Management Fee 8.00% $9,915 Repairs and Maintenance  $7,500 General/Admin $1,100 Payroll $0 Other $500 Deposit to Replacement Reserve $3,000 Total Expenses $75,205 Net Operating Income (NOI) $48,735 Debt Service Principal $7,384 Interest $24,857 Total Debt Service $32,242 Total Distributions to Members $16,493 Member Contribution $234,163 ROE 7.044% Member Cash on Cash Return 7.04%

Good evening everyone,Our team is in search of an excellent HVAC guy.  

You're communication with the seller and building rapport can put you in a position to propose any or all three suggestions to find the right solution for the seller. 

My mom is retired with excellent credit but the banks will not give her the loan even though she has money in her self directed IRA, so we have to turn to a hard money then convert to long term financing, so the interest will be higher.

A few notes: the 50% rule of thumb is based on the experience in the industry, but it will be between 40% (self-managed, tenants pay utilities, newer home) and 60% (PM managed, you have some or all utilities, older home or deferred maintenance).

This is a great community and I am sure you will find excellent contacts for your SC market. 

I can do them one at a time or all together depending on what one needs.

If you're interested we can talk more about it)2) Find an owner carry situation and use that as part or all of your down payment.

Excellent advice @Engelo Rumora , thank you.