What are some possibilities for securing financing now for a $499,000 house with the following "obstacles"...1.

Well, for certain, the inventory or supply of multi-family dwelling is quite a bit more than Single family home rentals.

If you want to buy property, please secure financing prior to going out and looking for deals.

John, I have always thought the RE Brokerage structure was very close to the securities business and insurance world, captured agency relationships, product development and a sales force.

I have a contract Im getting ready to secure this coming weekend from a motivated seller and going to market the crap out of it and lease option it to a buyer...

Funds may only become sufficient to close prior to closing in the closing agen't account.When the deal funds, the HML breaks down the deed of trust with a collateral assignment, often in violation of state/ SEC regs, as that is an unregistered security, but usually only known between the investor and the broker.There are other ways, but this seems to be common, the new verification requirement will probably change this, hopefully for the better

So my question is, is there a specific contract that needs to be filled out in order for me to secure my passive income from this deal every month?

I just inspected a property yesterday, and got my first real look at it.Here is the information:Asking Price: $15,675On the Market: 79 DaysComparable Comps: 25-35K (I believe this to be a little low right now (The area just a few years ago was roughly 55-65K)Expected Rent: $500 to $600I did not factor in Closing Costs, but I figured a $7,000 bid offer with a contingency for inspection.Since most of my cash will be used up in the initial purchase, I plan on using the property as collateral to secure a personal loan for $12,000 at 7.5% (Not sure if this is too high) over 5 years.I assume that I got the COC correct?

Met with the new tenant around 10 am to collect security deposit and first month's rent, and sign the lease.

Or you can compare it with one you can get from the office supply store and compare.Angie