You can pay the lowest payment, usually starting around 1%, reason you you would want a product with 1% is because if your renter moves out or leaves you are still able to cover the mortgage payment without draining your personal accounts.

If you find the right properties, my OPM will CYA (cover your ***) and of course mine plus my OPM will often help you structure your deal.

At 3 renters ($1425) I can cover PITI and water/trash expenses (roughly $1300 total).

The buyer is an experienced investor, and his renters have covered his payments and costs.

I'd like to get a rough idea if most people use cash to cover rehab expenses, or if they take out a loan/credit card/2nd mortgage/etc.?

I just finished my first weekend of it and breezed through the first exam, because it didn't cover much more than simple definitions and fair housing laws :wink: .

I think this was covered before.

For example, they have sent us addendums to the contract along with a cover sheet that described the addendum as “acknowledgement of receipt of a policy change”.

They cover the closing costs--other than getting out of the properties, why would someone do that?

Its a great question, and I’ll try to cover a few important points.