The raw land had never been developed, so it never even produced income, but I believe that would be acceptable as the relinquished property in a 1031 exchange.

With that in mind finding that property does take awhile and requires some innovative strategies.

Between rents and selling properties at a premium would be two catalysts for these future REITs being able to produce pretty good dividends?

No damage has happened to the foundation yet so it has not produced a problem yet, however I am going to get it fixed which the bank does not want to take care of.

Agreed with that - but credit REPORTS tell the story; scores are just a number being produced that makes a lender happy ...This particular tenant applicant is working on getting a loan, so the credit score would have to be decent to get the loan approved.

Curious as to what steps/formulas you guys use to properly evaluate whether or not a home will produce cashflow and increase in value.

I found several that offer 6-month, 12-month and 18-month balloon notes for multi-unit/income producing properties in the area, up to 60% LTV of ARV.

As long as you can produce POF to show adequate cash, you can generally close any way you like.

Shorter amortization periods can be a real blessing when you're working with a property that produces a strong cash on cash return.

Basically, within a month I would be outright owning a property which can produce around 40-50K income per year, but property would only show around 12K depreciation.