Someone correct me if I'm wrong here - and I'm not familiar with TX - but from what I've read in IL is as long as you're lending money to an LLC / Corporation (not an individual), you can charge higher amounts (maybe even any amount you like).

Long story short they were about to lose their home and I made a deal with them to buy it but it needed to be taken out of bankruptcy and gone thru probate.

When you say it is tough to find a cash flowing property, are you assuming it’s rented out long-term or just in general?

I plan to use this home as a long term rental.

The numbers on the deal are below:-$6100 PITI (5% down owner occupied)-$2600-$2800 monthly rent per unit-Off market deal near Richardson High School-Both units fully renovatedI would essentially be betting on the long term appreciation of the DFW real estate market as well as long term rent growth.

Would that be allowed as long as we are not personally working on the house?

Long term rental?

3 months of rent receipt from 7 out of 7 should do the trick if you want max leverage, 5 out of 7 would probably do the trick for low LTV as long as one of those 5 is the big unit.

@Tyler Case you would need to be in a deal for the long term on a rental where you have a 3-5 year hold period.

Find out how long they have to contest it and at the same time tell the PM that is it their job to manage the place, so they are the ones who decided how much of the deposit to keep and should have included an itemized bill in the letter they sent.