Divide rent into purchase price.Memphis $1,000 / $100,000 = 1%Seattle $5,000 / $1,000,000 = 0.5%

The main one being you know to a large extent when someone is living there the water is running properly which is a big unknown when you purchase a vacant foreclosure.The next post will focus on the rehab budget we put together for the project and the draw schedule we have with our hard money lender.

I previously worked with Wells Fargo and would not like to work with them again as their flow from closing to draws was difficult.

I guess what I’m saying is is the mold inspection letter going to draw the line in case of liability issues?

I know there is a very divided section on BP that either love or hate turnkey rental companies, however I would like to know what turnkey rental companies have a solid record of always performing to par and causing few to no headaches for people.

Also looking to either knowing how to draw up a contract for lease options.

You also need to add in the time for drawings, running to file the permit, picking up the permit, waiting for the inspector to show up, etc.

If it's the latter, you may find yourself in a MORE difficult situation than you are in now once you draw cash for investment property.

I do have pensions through my Guard and FT job even if I walk away now (just can't draw on them until 60 or 62). 

I can keep you updated if you'd like as I go through the rehab process and have to request draws from the lender.