I would qualify the landlord in much the same way they would qualify me as a tenant.

A qualified buyer, a property, and access to money.

The reason for non recourse is that the property qualifies for the loan and not the borrower.

As you become more experienced with investments on this level you can begin to consider larger investment strategies.Once you have qualified your financing, you know how much you can afford.

I just liked how I didn't need to qualify to run a credit report because the tenant logs in and authorizes you to run their credit.

With a 605 credit score and it sounds like slow pays on at least one trade line you may not be able to qualify for a conforming loan.

But I take your point.I'm guessing that the townhome qualifies for the "2 out of 5 year" rule for preferential tax treatment which is one more reason to sell it now.I don't like being a long distance landlord, I sold all of my rentals before I moved 200 miles, so I wouldn't keep it unless you KNOW you might move back and re-occupy it.Your math analysis is correct.

Originally posted by "Lon":For qualified projects, we can fund hard money from $2mm to $50mm nationawide.

I have superb internet skills which all the local offices lack.

When considering commercial properties you want make sure theyare income producing property, which in turn would mean you wouldnot have to qualify for the loan, or personally guarentee the loan...the properties can secure themselves.The key is to know what your looking for and how to find it.