Hi All,Any suggestions for the best application for my tenants to pay rent? I recently closed this week on a fully occupied 3-Unit in WNY. Hoping to get them on an app rather then collecting a check each month. I foun...

The fact that the tenant could not afford the up front payment was a big red flag.

Your share is similar to what a wholesaler or REALTOR would provide so I think a one-time payment would be appropriate. this could be a flat fee or (preferably) a percentage of the purchase price.

My recommendation would be to find another, less depressing job to fund the down payments for your investment properties.

I will be left holding the bag on it, or just trying to get a LARGER long term rental rent payment if this law is passed.  

His loan statement says he owes a payment of $9,000 and to bring the loan current he needs about $19,000. 

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

I have two options in front of me either to obtain a rehab loan, which will cost me $10k for six months ( points, fees, interest) or just finance the entire deal with my own money (cash).The rehab loan will enable me to obtain an additional property, so in six months i'll have two properties ( one with the loan, another with my cash)  but it'll cost me an extra $10k (on top of the regular down-payment which in any case i'll have to lay out) .

(the only difference is I put 20% down on mine whereas she put less than 3% on hers-so no PMI for me but still paying PMI on hers and her payment is about $300 more a month than mine because of that). 

His loan statement says he owes a payment of $9,000 and to bring the loan current he needs about $19,000.