PMI is a set rate, you can look it up, I believe 1.75% upfront which gets added in your loan balance, plus I think .85%/yr added to your monthly payments.

It is always important that you set firm screening standards and never waver.

The issue is that this single property has a need for a specific skill set, my father in this particular scenario, and this same job will be outsourced in the future.

If you would like to get set up on hotsheets to watch the area I would happy to help. 

Get inspections if you haven't already set those up.

I'd be happy to set you up with a lender that we use that is incredible... just let me know!

The one I’m really having an issue with now everything is all set but the roof being in the process of repair might be an issue.

I am pretty sure the seller financing will go through however have to look into the steps of working with a Title company and setting up escrow.

He's looking to turn it into a 4br 3bath and possibly turn the basement into a livable space.He offers a promissory note for a payout of either a set interest rate or percentage of the profit, whichever is greater.

He will be selling the properties to me for about 35k each and they will rent for anywhere from $600 to $800 a month on a 12-15 year note with the bank.With his knowledge and history in this market I feel that my mentor is steering me on the right direction and not setting me up for failure.