HUD has a web site were you can put in the condo name and see if they are "approved".

Since my web design business took a beating, I had taken it upon myself to make sure I state in shape.

The bank approved $500 in payments to the title company but the title company has added a $2000 "service fee" that they say I have to pay.Now, $2000 isn't worth losing this house over, but $2000 is still a lot of money.

You also need to take into account if your competition is waving the security deposit for qualified applicants,charging a pet fee or not,paying for any water,sewer,trash for the tenant included in the rent,including appliances,or giving a rent credit on move in, and many other factors.Rent rates can look good until you see how many landlords you are competing with,quality of the product,and incentives given driving down the net rent before debt service and depreciation.

Bill too many factors would weigh into this.You are looking at hard money with very high carrying costs at 60% occupancy as a regular lender won't touch it.Too easy to go from 60% to 40% or lower and the new lender has a fresh foreclosure on their hands.Unless you pay cash you will need a HML or private money and will have to pay low to get it to cash flow until you can refi into a lower debt service once stabilized.Is this a local,regional,or national bank??

The real truth is, if it were that easy, everyone would do it and there would be no gurus selling their products and services, they would be out working a few minutes each week to make their easy millions.I have received emails from my contact for REO deals, spent 20 minutes or so doing some paper due diligence, made a 2 minute phone call stating send me the contract, executed the contract, send out an email blast, read 5-10 quick emails, locked up a buyer and walked with $10k, $20k, and even $40k in profits.

Or, use a service that you pay into and that then pays the mortgage and sends her the difference.

Anyone ever get involved with any capital advisory service from a fundraising standpoint?

My web address goes on all of my bandit signs, direct mail campaigns and classified ads.There are other software solutions out there (realeflow) you can use or you can pay a web designer to program a custom one for you.Btw, if you are the same Mike who emailed me, I tried to respond but my email got bounced back to me.

I like good customer service.