I work with a commercial lender that loans based on the property, not your income (no tax returns or W2's). 

Always willing to lend advice based on my experience :-)

Based in Los Angeles since 1997, he has completed over 2.5 billion worth of transactions in Southern California and other strategic markets throughout the United States.

I'm based in Portland, OR btw. 

Approval is also based off of your credit score, so make sure your score is up to par and you've done all your research on which financial institution you plan to go with.

So here is a sample scenario:$60,000 purchase price25% down = $15k, advanced from the line of credit$45k purchase money loan based upon the value of the homeThe loan rate for the purchase money would be around 5-5.25%, the line of credit rate would be in the 5.25%-5.50% range.

Purchase based on sales comparables, at a discount, and have a good idea of what your operating expenses will be as well as what market rents are to get an idea of your return.

You will need to submit a repair list with a budget and the bank can give you a loan based on the ARV.

I only sent offers to extremely distressed properties based on provided pictures.My question has to do with direct mailing to Pre-Foreclosures.

While cap rate based on existing T12 may only be 7%, it is likely a hotel could achieve 10%+.