The Lessee also offers to be reposnsible for all normal maintenance, not including major repairs like a failed furnace - there can be a dollar cap on what the Lessee would pay for.

Any suggestions on how to locate the leak on the roof and repair this?

Plus, our California plan and our mid west plan are very different from each other.As far as "re-fi":We're paying cash for SFR's at 20-30 cents on the dollar and then cashing out up to roughly 70% LTV (never going over) after making repairs.

He doesn't have the cash, but I am looking for something that I can help him with, and in return he can do the repairs, managing ect.He currently has a townhoude he rents Section8, and has been blessed with a wonderful teneant who keeps the house PERFECT.

That would be a good way to go...One thing you didn’t mention are the repair costs.

They will not reimburse for any repairs/upgrades that they deem "not needed."

yes i am referring to putting a house under a L/o contract and then assigning to an investor...or even putting the house under dual l/o and then still assigning. the point of it is that while i don't mind the work, putting it under contract and finding sellers and buyers i can't deal with even a partial month of non rent payers or other problems. i know as a l/o the t/b usually takes care of minor maint. etc and the real owner usually has the burden of the huge "the water heater blew up" kind of repairs but i am more afraid of no rent and me still needing to pay. i was wondering how much a sellers l/o would be assigned for and then how much a dual (seller and t/b already signed/moved in) l/o would be as far as my profits. also with a t/b how much do they usually put down as a down payment?

When my wife sees me doing repair work, she is amaze at the things I can do and gains full confidence that we can do this.

Are there any mortgages out there that will give me 100% of the purchase price - or even better some extra cash to make the repairs and rent it out?

Projected monthly rent - $675 (I thought $650, realtor and rentometer say $700, so $675)$675/2 = $337.50$337.50 - $100 cashflow = $237.50$35,700 @ 7% for 30yrs = $237.51$3500 estimated closing costs (probably high)$1000 estimated repairs (I'll do it myself)$35,700 - $4500 = $31,200 (the max I should pay, right?)