From application to closing is 2 months minimum but in the end i was approve for both and happy with the rates.

Investing in Real Estate: 7th Edition by Gary EldredI am enjoying this reading because of the variety of ways he states one can invest and/or profit: practical application rather than endless motivation to leave the 'rat race.'

You can get FHA insured loans on investment property, but you have to pay the larger down payment.The steepest penalty that your friend would incur would be having your loan application denied if the bank decided they don't want to lend to you ... but that's more about his ego, and not going to influence his credit score.

I had him fill out an application and do a credit report.

You can also create an ad in the local classifieds and post tear-off ads at local places that have a bulletin board such as colleges.If you still don't get a good enough response then you can lower the rent/deposit or lower/eliminate the application fee.

I don't have any other applicants interested right now so I was considering it. :/ But the downside is i would lose a month and 10 days of rent.

To determine COC, take the annual cash flow and divide it by the money you invested (down payment, closing costs, and any rehab if applicable).

Here, as well as other states, like the word "facilitate" which can have broad applications.

If you are using management companies, tell your tenants how they can reach you directly just in case of an emergency.If the perfect applicant came along and asked your current tenants,"What kind of landlord are they?"

If you are a cash buyer in Chicago or SE Michigan (Suburbs of, but NOT Detroit) please let us know your parameters and we will put you top of list when we have applicable property.We market heavily and often can meet your criteria, so the more specific & realistic the better we can serve you!