I can relate to Eric with the lost opportunity cost of not buying at all with regards to appreciation, tax benefits, cash flow, and having the tenants amortize down your principal balance.I assume your cashflow of 800 assumes you rent all units out and yeah perhaps you'll just break even for one year (recommended if you do VA you should file the first year's tax returns at the property so you're documented to be in compliance with VA primary).After you vacate the property you now have an asset producing income for you even if it's at market value when you bought it.It's all about managing your cash flows in good and in bad times so it depends on what your contingency plans are in the event a tenant moves out, you're at 75% occupancy, 50% occupancy, RE values drop and your over levered, etcUnique Dynamics of the VA Offer below:VA loans also have a:2.15% upfront financed VA funding fee (VAFF) if you put down 0%1.5% if you put down 5% or more1.25% if you put down 10% or moreIf its your second use you will have 3.3% VAFF if you put down 0%1.5 and 1.25% guidelines still apply for second use VAFFThe VA nonallowables are costs that the buyer is not allowed to pay so you'll have to strategically structure your offer so that it will be competitive with other buyers as well otherwise if the seller has to pay the below it may make your offer less attractive - FYI- escrow fee's or settlement/closing fee's- loan origination fee's other than points (underwriting, processing, etc)- doc prep fee's- application fee's charged up front for loan- pest inspection fee for your property- attorney fee's (if for other than title work)- assignment (if buying a loan or property assignment)- copying fee or email fee etc (lots more but those are the main ones)

Other things to look for ask them how and what they do for a background check, how do they determine if they qualify to rent from you, what happens if they miss a payment, do they have contractors names that are ready to go out and do repairs for you if needed and if so get the names and numbers of the contractors so you can look them up and ensure they do quality work. something else to factor in, if something goes wrong ( water leak ect ect ) do you want to direct hire someone or do you want to be 100% hands free and just get a bill when its all said and done?

The gas company won't leave you hanging with a major leak and have it leaking all day.

It doesn't take much to get an EIN, you can file it online at the IRS and have it that day.Your trust docs should be filled out when you create it.

Hey BP,Here's the situation: Tenant is getting flack from landlord about water leaking down on the other tenant from the bathroom.

I currently owe around $1.5M at 10-12% so you'll get no sympathy from me on your, what I think ought to be illegal, 3.5% loan.Does it bother you at all that you're the typical borrower - sign docs, ask questions later?

If you would like me to review or critique your docs or process for the private loan, let me know, happy to help.

In addition to answers to these questions, please provide copies of allcurrent lease agreements.My client is planning on meeting with the bond for deed attorney onThursday but may not be in a ready position to sign docs at that time ashe would like to do all of his due diligence ahead of time.Thank you,

If the basement leaks, but there is a drain in the center which typically prevents it from flooding up, would you add a $1000 sub pump anyways?

I won't spend the time to rehash the particulars again, but my solution was a wraparound mortgage, if you can find a real estate attorney that can craft the docs and handle the closing.