In some lenders this is a separate department which coordinates the funding of the loan with the title company or title attorney.

Also, check with your local community housing department, as many areas have Down Payment Assistant Programs.

Even if you found a borrower willing to do that with you, it's incredibly difficult to buy a loan from the bank through Loss Mitigation – which is the department you would end up at working through a delinquent borrower.

I can make those decisions with an email or access to the following information.The address of the housePictures of the following Kitchen Bathroom(s) (tub, vanity and floor) Roof (reasonably closeup) Front View Rear View Furnace AC Hot water tank Window, typical of the majority in the house Garage door Fireplace Driveway/Sidewalk Garage if free standing Main electric panel Anything wierd, or destroyed that is not on this listSome rehabbers may want comps, I run my own.

What I would ultimately love to setup would be a seller carry back deal where I put the money I do have as my down payment, get the rest from the seller as a second, and finance the majority of it through a tradition institution.

Hey Nick, Congrats on the home in Cotuit, I actually work for the Town of Barnstable's engineering department and am extremely familar with all of the different neighborhoods throughout.

My wife and I do not have children and she works in O&G upstream for an oil major, so most of our earnings go to purchasing houses.

Simple calculation - average rental period for the area and "good tenant" profile (in our case, for instance, in Japan, its 4-5 years in the singles' units we like most), take 25% off that time for unexpected downturns (or more if your area is notoriously unstable), and work out the percentage 1/2 or 1 month rent income is of that period (in our case more like 1-2 months).I think, in the vast majority of cases, and particularly if you work out how many empty months bad screening or management can cost you, you'll see there's no doubt as to the financial gain potential a good PM or tenant placer can be worth.And that's without even taking into account the personal toll of time and resources spent when you do it all yourself...

You dont need to be a business major, but it will help you.Get an engineering degree , law degree.

This leads to me to think there would be a good amount of Lonnie deals around and maybe I haven't dug deep enough but the majority of homes in my area seem to be selling for $15k, $20k, up to $50k.