Getting a new PM would be my next step, but I always do my own verification of tenants.

Before I found this site I went to one of those 3 day workshops run by an investing guru. I was told by a so called mentor that I shouldn't even start doing deals at all until I got an LLC setup. Of course he would he...

However you could have also asked for city verification. 

You're just getting started, have little experience and would like a loan program with no income verification and zero to little money down?  

I would argue that $75,000 is the actual value, even if the identical house across the street sold for $100,000, 366 days earlier. 

So, the new HAFA short sale program unveiled last year has just announced NO INCOME VERIFICATION ... they don't need to check bank statements...talk about opening the floodgates for EVERYONE who wants to start their strategic default....sigh :roll:

I too came across a deal almost identical to this not far back.

When I compared his math to mine, we end up at almost the identical profit margins, so in essence, we use the same formulas.Lets use this as an example:Purchase of $200,000Rehab of $40,000ARV of $320,000That is 75% all-in.I have 5% agent fees and 1.5% title/escrow/transfer taxes/misc for a total Resale cost of $20,800 - Lets round to $21,000 (I ALWAYS purchase a owners title binder on acquisition to cut my title costs on escrow, if not, expect to pay 2% total.Assume 12% interest and 3 points for financing, plus $1k in fees and assume you can borrow 100% of purchase, you bring $40k rehab funds for skin in the game.

MyFico has one and Identity Guard has one.

For me it works out great because there is no chance to fall victim to an identity thief opening credit in my name.