The only loan program that will entertain such a deal with a 500ish FICO is FHA (Fannie Mae won't touch it), but you will need at least 90 days title seasoning in order for this program to be considered.Regards,Scott Miller

This is a way for you to get involved and dive into the REI world without 2 nickles to rub together.

I am fearful of getting involved in talking to sellers without a clear knowledge of how I would sell.

I am sorry, I should have asked if any of you have a simple program that you use to input the numbers in to find out if the property is worth buying, ect..If you do, send me an email, or send a copy of the program attached to the email.

We use it for about 1 in every 5 marketing programs that we do...

It can be if there are politics involved, but that would entail 99% of the economy where there is some sort of regulation on every issue in the economy so that would make every financial conversation political in some way.

I have found a decent book that just deals with these types of properties and covers lots of specifics: Armchair Real Estate Millionaire.From a financing standpoint, there are programs that allow up to 90% financing for this type lease tenant arrangement.

Apparently she didn't want to be involved so she wasn't.I was off one day and when she came home from work she asked how my day was.

Don't get involved.

There are quite a few HML rehab programs that will lend you 100% of the purchase price + cost of repair + closing costs (and in some cases, allow you to roll in the mortgage payments) assuming that the sum total doesn't exceed the ARV allowance of the program.