We would be getting a 25-30% discount on the purchase compared to what the market value is so we would like to get this done.

The couple is divorced. both names on the mortgage. went to auction for foreclosure now. some equity for the owner probably still in property. existing/defaulting FHA loan at a low rate. 

Welcome to BP@Erick Montero , we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!

Yeah, my only STR's are/have been former primary residences that are in my portfolio because I didn't want to sell them, and because I've had so much demand on them they end up being MTR's (one STR guest stayed for 2 years lol, paying STR rates).

The market rate is 20-25% of revenue.

Anyway.. they would video tape the actual closing and the main reason was to go over the terms of the NOTE.. this is 15% interest you go into default by non payment or non payment of insurance the rate jumps to 22% this is short term loan its due in 12 months if you dont pay we have the right to foreclose or we can charge another 5 points just like the points your paying today. 

BRRRR is typically easier to employ at lower price points or if you're able to get an insanely good discount on purchasing a property.

Welcome to BP@Nir Berko, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!

I have a 30 day notice that requires I be paid my rate for any of the bookings within that window and I would continue my services during that time.

Welcome to BP Kyle, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!