On another side note, I thought what I was charging him was fair as it covered the mortgage and minor repair costs.

The sky is not falling, but I agree if your carrying costs are high and owners did not budget earnings from last year to cover costs of the first slower months (Jan-May) then they are hurting. 

This is because the entry cost is generally much less than property in NYC.

Entry costs are lower out of state but I have a great Real Estate agent with a vast network I can capitalize on. 

You can in fact use the rents to qualify to help get a higher purchase price approved.You are smart to be cautious because it will cost you money to start the mortgage process, pay for an appraisal, inspection etc.

They might allow for a no seasoning rate and term refinance, but that would have you bringing your closing costs and and lender fees to the table.

They denied smoking in the house and do not want to pay the cost of the remediation.  

They CAN foreclose if you stop making payments, It Costs a little more ($1500) to do a Wrap because a mortgage has to be created You become the owner in either situation In a Subject To you send the payment to the lender (servicer) In a Wrap, you send the payment to the lender (servicer) AND you send a payment to the seller.

The most recent comp to sell was 2114 Robinwood Ave, Toledo, 43620 which was converted to a Triplex and sold 8/4/2023.Ensure the purchase and renovation costs adhere to the 70% rule relative to the after-repair value (ARV), which is estimated at $250K for sound investment planning.

This is n spite of it costing much more than that to add an ADU.