@Bob NortonI do not think that the procedure you're describing is universal across the country

Sometimes there is a 2 factor committee approval process where the local branch approves the loan but the main board at headquarters does not.If Mark Porter can get those loans he describes than great for him and I am happy for him.I have clients sometimes where LTV is not the main factor in a deal.

I say yes that is describe property, rent. do you have any questions?

I am coming over here for very needed   help with very difficult problem .I am in my senior years .My question is about gain taxes strategy in my  complex situation .The property , condominium in prominent Hollywood CA areawas bought by mi and my ex now husband in 1996 for 90k .I was putting a lot of money in paying it , downpayment , improvements , because was spoken is mine , because we alreadywere contemplating possibility of divorce .In 2000 we finalize our divorce .The same year I got married for the second time .Unfortunately promises arround uncontested divorced with my first ex  were not kept,and I was forced to do quiet title case , when it was decided  10% of property belonged to my first ex,and 90% to mi .It was complicated history of deeds , which I do not will describe over here .The case of quiet title had place in 2006 .

(Plus, the "team" you're describing is only really a team if you have projects for them to work on.)

I've gathered lots of material on the purchasing process of a rental property, but there are a few things that I haven't seen described clear enough.

On price:  It sounds like you're pretty close to market value for how you've described the home. 

@Shelon HutchinsonThank You 🙏 so eloquently describe in your definition, Webster here’s the future upgrade definition LLC or LP You have me much better understanding to explain to others may I share your post

I've heard it described that HOA insurance would rebuild back only to the rough flooring, rough ceilings and interior studs.

That's why I described a Lease Option.