@Brie Schmidt  Ah, I see, thank you for letting me know about that, I'll have to make sure that my hard money lender is made aware of that and to allow me at least 6 months.

If you think I can be any help to you please contact me at any time.  

I'm in Red Bud husband works in Belleville.

But, at that point, I should have one HELL of a portfolio that I hope more banks will want to start lending to me at a better rate than 5%.

Don’t think there is enough meat on the bone for FML to find it.

@Nik Moushon I feel like because you were getting a lot of initial red flags before when she toured the apartment, this renter won't be a good fit for you.

So if I were to run number, I am already red in the beginning.Am I wrong?

- What systems will be a red flag to you?

I decided to go 119K with no seller assist, thinking that closing costs would run me at most 5-6% of the property.According to my lender's estimate I'll have to pay 14K out of pocket which seems too high.

My quick math shows you at least ($150)/month in the red after you move out and that's assuming taxes and insurance are included in your mortgage payment.If you only make $30k/year, you simply can't afford a $300-400k property.