If our verbal is accepted, or at least of interest to the seller, we then write it up and make it official. 3) whoever you end up working with...... be prepared to "put up or shut up".

On Saturday he will be leading "Team Invest Pro's" official launch here in the Inland Northwest. 

To deal with an HOA just ask a lot of questions of the extisting homeowners, a local Agent, and maybe a building official with the City.  

All will be cash purchases and then refinance out. ...something about getting to the number of 10 makes this whole thing seem "official". :)So... the lesson I learned, Jump in.

I have yet to do my first official deal but I have studied quite a bit.

So I have officially purchased my very 1st multi family home!

However), you will gain the experience you need.Also, I think if you are buying the house at a good price and not leveraging too high (i.e. you putting in a solid amount of your own money into the deal and not making your lender put too high of a percent down) that might be a great way to tell them that they have a nice safety net.A few other things you can bring to a lender to get them comfortable: 1) Get the property appraised and/or; 2) pay a broker to do a BPO as-is and ARV; and 3) Get the property inspected with an official inspection report; 4) Get MULTIPLE contractors into the property and get detailed SOW's (Scopes of Work)  5) Show your other experiences, accomplishments, and skills in other areas and how they are relevant 6) show your credit score and other personal assets you have in case the deal goes south.Best of luck!

Where do you get this official Cap Rate from?

Once the title was officially clear he was then able to sell it to a buyer that was able to get financing on it.

His current mortgage is about $2K per annum, rent from 1st floor is $1K, and I'm sure one could rent the top floor for close to $2K (appliances are from early 2000's)He hasn't even officially hired a realtor yet, though one is in the wings, she'll have hard numbers for me by Thursday next week.