So if youre planning on buying close to downtown, I would buy as close to downtown as possible, especially now because it is a buyers market.

Ie. does the seller need to be in, or close to, pre-foreclosure, or in a tough spot?

In all, we were able to do a cash-out refinance after 1 year and got our entire investment, including down payment, back into our personal accounts and we still have a cash flowing property.The beauty of smaller town and communities is that often big-time investors are not looking at them as closely and they can cash flow quite well, at the sacrifice of "natural" appreciation.

I would not finalize/close the purchase contract until all permits have been approved by the city.

If the units are very close to one another, I’d offer to move it for them for like, a $75-$100 fee or something.

I am in the middle of closing on my first piece of real estate ever!

We do close a significant amount of properties with credit unions that finance investors with this 5% loan product, mainly in FL & AL. 

But he gave me a phone # which I traced back to Xplicit Home Loans and someone called Hughes Reid.I got suspicious when he said they did not need to do an appraisal and could close in a deal worth $2M in 4 days!

@Dan Wentworth are you still happy with the program and did it help you close a multi-market deal?

Are you close enough to keep an eye on the property?