I always assume 6 months of holding costs (taxes, insurance, utilities, interest).

1st rule of any lender, skin in the game. no insured lender will give you a loan at really any LTV with none of your money in the mix.Consider a Sub-to transaction. :)

Hope everyone is doing well, stumbled across this site and hoping I can get some valuable input.I'm 26 y/o went to school for finance and insurance at Northeastern in Boston.

I normally figure 5% or $4,500,,,part of the cost are the same for most houses (appraisal, many of the fees etc), some will vary a little bit (title insurance).I buy houses in just under $100k, and it seems like it normally ends up at just under 5%,,obviously this does not include any tax cost or credits that may be involved.

No problem, you just become an insurance inspector, or anything else that comes to mind.

@John K.Our lease (actually the schedule 'A' to our lease) identifies the tenant is responsible for any by-law infraction fines assessed as a consequence of their failure to fulfill their obligations and responsibilities (put out garbage, clear snow, or mow the lawn, having non-operable vehicles on the property, etc).When we receive such a fine from the City, we pay it and then send the the tenant a letter and invoice for the amount of the fine, plus an administrative fee to cover our bookkeepers time to issue and collect the invoice {though we typically waive the administration fee on first offences}.

I agreeour buyers are fighting an Insurance Co., who decided a home we sold has a (very slight) roof sag.

Vacancies, potential evictions, insurance, repair costs, damages and wear and tear on appliances/carpet/everything else could eat into that $400 well.But $400 a month isn't too bad assuming the repair costs are low and it's a newer house or renovated.

You never know how the sheets will be split between parting partners.Avoid potential issues, hold all major players responsible, enforce terms jointly and severally, take the position to collect amounts due from the most economical path in a timely manner.It's prudent lending practice, failing to do so is poor management identified by regulators for insured institutional lenders if major players are not held responsible.

I have to go through my insurance for the hardwood floors.That is not my only problem.