I'm a buy and hold investor, so I'm picky about locations and try to buy cash flowing properties on streets that are likely to go commercial in 7-12 years after purchase, AND the seller carries the notes for 5-10 years.

I'm about to order some.Oh, and my mentor suggested I carry a clipboard with me. 

They typically fund both for up to 12 months but the deal has to be able to support the high carrying costs because you can't refi for 6 months and your LTV will be limited to 75% when you do.

Hey Carrie, as a wholesaler, I do get approached quite a bit to find retail buyers deals at a wholesale level.

My questions for all of you:1) Would I be asking too much or come off as desperate if I ask him to carry the loan and offer a lower price?

It is wonderful to hear that your investments was able to carry you financially during your time of unpaid leave.

In which, I take 30% of the ARV right of the top for closing cost, carrying cost and Profit.

Did it appear to him that you were wanting everything - a lower price, higher rent price, him to carry the financing - and in the end, it was too much of a good thing for you?

I buy in good neighborhoods (Two tests: There are no bars on the windows and I don't feel the need to carry a gun.); in Houston area the houses are $135k to $175k ARV; the monthly rent is about $200 more than 1% of the TOTAL COST. 

Properties that are newly listed will typically carry the most steam, don’t chance it on losing potential tenants.