Its Fannie Mae.Debt is difference between projected Payment - and projected Rent.

You can usually negotiate payments terms as long you continue to pay something.  

3 BR/1 bath asking $170k.Taxes are $9,062 (although I saw at least one other figure on a different website, I went with the highest)Here are my assumptions:closing costs - $4,000rehab/initial improvements - $5,000 (this is a blind guess because there are no pictures of the inside available, but let's not focus on this number right now...)Rent - $2,000vacancy - 8% ($160/month)property management - 8% (the calculator I used (downloaded from BP) uses net rental income for this, so it's about $147.16/month)maintenance - $1,000/yearcapex - $160/monthinsurance - $1,000/yearwith a 25% down payment and 4.5% thirty year financing for the balance, I net a whopping -.82%.  

Typically if you have a large down payment of 20-25%, you can still find properties with positive cash flow in single family and you make money on the appreciation.I bought a newer Townhouse in home town Orangeville recently which is cashflow positive with 20% dp.I agree with Luc and Ming points, you have to be able to improve the property, either improve cash flow or increase property value with reno's.I have looked at multi family and retail net properties but have not found anything too exciting yet.

Then I got to thinking, why didn't I receive a late notice or a call of some sort in regards to the missed payments??

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So I'm currently taking over payments in the 2.5-3.5% range and charging 5-6% (more or less).

Yu could put together an offer for a price you think is fair and offer this:   own payment  10%, owner financing for the rest at a XX% interest rate.  

Specifically, they will be looking for capital for a down payment and operating expenses and reserves, capability to obtain financing in an amount sufficient to close the deal.  

Credit and down payment are not an issue and I am pre-approved for financing.)