This does Not seem to apply to an ordinary arms length transaction by an agent, where they didn't directly approach the owner as an agent providing services.

Depends on the servicer, note holder and originator, different cases.

For us the first level is finding potential: Growing population in an area with growing jobs near convenient transportation, shopping, services and entertainment options.

I learned so much about the vacation rental industry and also went from the position of weekend editor to the Manager of the Support Desk at VRBO (customer service via email) and eventually US Manager of Email Support at Homeaway, Inc, who bought VRBO in 2006.I really love the service & product offered by VRBO/Homeaway and use them to advertise my own vacation rental property in Dillon, CO.

All those lists (well, almost all) are subscription services and many are pay per record.

Most commercial lenders I've spoken to about financing this for someone want 20-30% down so he's not out of line to ask for a 70% LTV, especially when even after debt service the buyer will be cash flowing from day 1.Thanks everyone!

Debt service on a 20-year schedule takes a big bite out of cash flow and just increasing to 25 year schedule makes a big difference.All the best with your investment.Michael

I do a lot of flips, spec houses and customs and couldn't ask for better service.

Remember that the stated NOI is before debt service so that could kill your cash flow paying a high debt service.

If you put 20% down on $360K and took out a 30 year mortgage at 5%, then your monthly debt service would be $1546.$1950 (monthly rent using 50% rule) - $1546 (mortgage payment) = $404 cash flow if you manage the property yourself.