Driving the property isn't exactly feasible, and neither is checking the MLS, because you probably don't have MLS access in that state, and even if you did, the amount of rentals on the MLS are rarely enough to find relevant comps (and they carry a premium because the landlord has to pay the agent and coop agent).

Make sure you know your carrying costs of a rental in Detroit.

i called their CFO, here was his explanation1) They bought a smaller trust company last year, so the Customer accounts was actuallythe "IMplied value of the accounts" that they purchased from sterling.2) The Due from related ntities is the deposit value of orders with companies that theyown but don't carry on balance sheet.

Needless to say, I carry this product in my van... and it's ready to go to work in an instant.

Though some would consider that a form of owner financing, its not nearly as good as an owner carried note on a free-and-clear property.

You should carry the note yourself.

Other options include owner carried deals, assuming loans, doing subject to deals, master lease options on apartment buildings, and other creative techniques.As far as your DTI, lenders usually take 75% of the gross rents less the PITI payment as your "net rental income".

These types of deals can have assignment clauses in them as well as an ability to get owner carried financing or purchase the property sub2(subject to - meaning they have a current mortgage which you leave in place, transfer title to you and you start paying that mortgage).

I would make sure NOT to let the tenants know that their landlord's primary residence carries no mortgage.

It's a Fannie Mae home, and we will be carrying a Fannie Mae mortgage on it.Totally separately is my day job - I am in IT and have an LLC (taxed as S-Corp) for that business.