@Naina Tara, congratulations on taking the first step towards RE investing and financial freedom.

They have been slumming, they are hitting rock bottom financially and repairs are reaching the point of being a real liability, or the reaper is calling and they need to exit asap in their old age.. normally all the above!

Brad Orpano if passed it means they’ll get rid of requiring banks to check income on loans if they’re under a certain asset level, meaning we’d be that much closer to extremely lose lending financial conditions again

Then you will reverse engineer your financial structure to determine your allowable All-in costs should be.  

I’m excited to get more involved with this community and network with you all while taking the plunge on this journey to financial freedom.

For me, I have to admit that #1 has slowed me down along with fear of making a bad financial decision.  

I personally would make the financial contingency period be based on when you receive final approval or denied - not when the appraisal must be ordered. 

I'm an experienced investor (3 MF deals) with excellent financials and credit.

Shorter terms, adjustable and callable, waking you up from your nap to report your financials every year. 

Typically, buying a place short term doesn’t work out financially.