Ive recently come across a package home deal working with a seller.

I told my manager (he lives next door and has encounters with the tenant) to call the police if he tries to threaten him.

you could ask your closing attorney to draft a second deed as part of the closing package.

I have a package deal for 10 houses right now for 210k that is pulling in 7k when it is fully rented.

A small package from the outside but definitely proves that good things come in small packages.

Did you buy the basic 300 dollar package?

What I did like was the ‘software package’ that came with the program.

I do plan to be an active poster on Bigger Pockets and enjoy the inter actions.Regarding the financing - I plan to do my own financing for my buyers - "seller financing" and therefore will need a RMLO to make the financing package compatible under the Dodd-Frank bill.At this time, I really am not in need of a portfolio or conventional lender.Thanks again for thee input!

Building your own projections with what your realities will be is the only way to conduct due diligence on a property (ie property taxes based on a new assessed value, insurance, etc) As you stated, your financing scenario can turn a great deal into no deal pretty quickly.Further, it's safe to always assume that expenses are understated, even if it looks like the seller's due diligence package looks complete.

The lender doesn't want the borrower spending all the cash flow without adequate reserves and then an event happens for which they do not have funds to prop up the property etc.It's all based on the deal after the lender has reviewed the Om package and the operating statements in pre-screen as to what terms they will offer or if they will even give a loan on the property.