I like the idea of a bigger price and larger monthly rents until the option is exercised but the new Frank Dodd regulations may hinder that.

I think doing this as an exercise is good practice.

Send me a PM, and I'll get the ball rolling.Andrew

(I understand no one can give a clean direct answer but a ball park)I'd like to know where should my funds be in order to apply for a home loan?

I also started marketing more to individuals, but that's a low percentage ball game around here, most people in distress dont have any equity and I dont like to play with the creative stuff as much as I used to.Bottom line is you cant control the competition, you can only control your strategy. 

This place just has pretty decent returns and huge demand so thought would be a good learning exercise.

Unless you have a crystal ball, that's very high risk.I think a fundamental buying criteria is that a property will be profitable for either strategy IMO.

That absolutely means letting the grandkids spend the night, having a friend from Houston stay the weekend, if they are an accountant and take work home they have the right to do so.Do you really expect a tenant to obtain written consent to allow the couple from across town to come in for dinner or let the guys watch a ball game?

Already on the ball with licensing in other states.I was just asking because when I told some PMs in Maryland I was seeking a broker's license to do PM, a few scoffed at the idea.

They don't dig too deep in collateral issues nor will it teach more of the "crystal ball" approach to underwriting issues.