Total Operating Expenses $865 Net Operating Income $1,638 P&I of $97,000 at 5% interest (investment rate) will be around$550.What do you guys think?

., and hung up.So, anyway, the end of story is that I think he is totally unprofessional, and based on his attitude to me, I don't think he represented the seller's best interest at all.

So if you find one for $100k and it needs $40k worth of work, you can get a loan for $140k and just pay 3.5% of the total.

This makes clear, and total sense!

Another lender says I can only have 10 mortgages properties total but said they would look into the 20 mortgages property plan..

Here's something from Fannie's website:Gross building area, which is the total finished area (including any interior common areas, such as stairways and hallways) of the improvements based on exterior measurements, is the most common comparison for two-family to four-family properties.

Look at the total value of the property per the tax assessment and see that they break it out via house and land.

That works out to 14% total, if you have one vacancy a year.

I totally agree with Jon, cut your losses and move on.What do you accomplish by trying to be difficult or collect more money?

It has been leased for 3 years, we paid less than what it was worth and it has appreciated well so it's not a total loss.