financing is also difficult for foreigners. i have 2 rental units in Atlanta and a multi in phoenix with partners.

Btw, a purchase and sale agreement (not a lease option) that provides for delivery of a deed in less than six months is not classified as an executor contract under existing Texas law or the new law.2) Rent credits should be not used after Jan 10 2014 due to Dodd Frank.3) Buyer gets the deed when title conveys and existing financing is paid off (loan is approved.4) Some states like NC make it difficult to evict, and they need to have some kind of foreclosure.

Are you willing to share the details (purchase price, cap rate, CoC, cashflow, etc)?

The first one we bid on we were screwed a bit by the listing agent who sold it to another investor in the area for a lesser price than what we bid (dont think the sellers were ever shown our bid), we later saw it on the market fixed and flipped.During this time my mother was facing a difficult time paying for her home so she was going to let it forclose so we were going to purchase a home for her.

I heard somewhere that if a borrower puts more down such as 5% the 4 unit cap is extended.

At a 50% expense ratio you have a 3.3% cap.

Cap rates in Santa Cruz and the surrounding Bay Area in general are horrible.

I found one that lends at the following terms: Interest Rate: 5-year FHLB + 3.00%, floor or 5.95% Adjusts every 5 yearsNo cap on rate adjustment (Note: Seems scary)Maturity: 20 yearsRequire 30% down.No prepayment penaltyI am wondering if anyone knows what has been the historical 5-year FHLB rate and any predictions on what it might be in 5, 10, and 15 years since the rate adjusts every 5 years.The no cap on rate adjustments is the scary part, but I guess I could prepay the loan if the rate goes crazy high.Does this look like a good options to secure long term financing if I've hit my 10 Fannie Mae loans already?

I understand for some jobs, it's difficult, however it's a good a idea to a cap in that case.Hope someone benefits from hit.Brandon, you are best, man.

.$280K$56K downP&I: $1200.00$2700 Total Rents - 50% rule = $1350.00 - $1200P&I = $150We've also broken the 50% rule down further with what we believe to be more accurate numbers:TAXES: $279INSURANCE: $279 (This is estimate as I wait to hear back from ins. agent)VACANCY 10%: $270REPAIRS/CAP EXP: $162PROP MANAGEMENT 10%: $270 (We'd be managing but have this built in for the future in case we didn't want to manage)Total: $1260.00$1260 + $1200 P&I = $2460.00Total Rent: $2700-$2460 = $240 cash flow.CAP RATE 6%GRM 12CASH on CASH 5%We realize that this isn't a great performer overall.