don't forget to account for vacancy rates, insurance and maintenance that you'll be responsiible for as owner.

10% down if Owner Occupied / SBA 7a. 25% down for multi family / commercial investor / warehouse etc.  

Its a Triplex with an unfinished bonus room with possibility of making a studio rental.Current Income: $2755Mortgage Expense: $2600Current mortgages total $349K  (1st+2nd)Owner is open to creative financing.  

Below I have compared 2 examples of selling traditionally with a Realtor at 6% commisions (which it may be less as it is negotiable) vs selling with opendoor or similar service.Comparing Opendoor to a Traditional Sale with a Realtor$400,000 Home via OpendoorHome Value: $400,000Sales Price: $375,000Charge 12%: $45,000Commissions 7%: $26,250Total Costs via Opendoor: $71,250Net Proceeds to Owner: $303,750$400,000 Home via a RealtorHome Value: $400,000Sales Price: $400,000Traditional Closing Costs 3%: $12,000Commissions 6%: $24,000Total Costs via a Realtor: $36,000Net Proceeds to Owner: $364,000In this Example Selling with a Realtor will save you $60,250!!!

Most owners or owners acting as PMs keep it professional with no emotional ties to tenants and keep it running as a business.

I'm also very skeptical of the HUD deals getting swooped up during the owner occupant period in Chicago.

Fluctuation, zoning, REzoning, demand, topographical data, etc...To give you simple examples as to how big of a spread between one deed transfer and the next; I have seen land that was bought for 1.25M only to be resold for 80K, a multiparcel that previous owner bought for 500K resold for 5K, etc...Bottom line, in REI land is by far the most rewarding yet the most devastating of investments; and, since you're new to real estate, I think it's best to read about it and do extensive research first and foremost.

I have been finding my deals from MLS through analyzing lots of houses (I mean lots, almost every house), having my own data analysis tools, looking at lots of houses, finding out the sweet spot during negotiation with the owners and/or giving them some incentive during closing (faster closing, waivers etc. ).

Hey BP Community,Lately, I've been reading up on Owner Financing, and I have a few questions I'm hoping the community will be able to help me out with.Just as a side note, the property is owned by an out of state owner and is free and clear.Questions:When purchasing the property, how does title ownership work?

Unless the contract prohibits the owner from living in it-the statement that it is an "investment property" has no legal ramifications, I think.