I would look to do either program with getting the properties minimum property standards then fund the cosmetic work over time with your own funds. 

In discussing this deal and his terms, he presented me with a master lease as his standard way of business.

Basically if 75% of the rent can cover PITI it shouldn't increase your debt to income ratio. 

*having enough time to do it all in general *local PM company is not up to our standard so we have to self manage.positives* we've got some really good systems in place that help things go smoothly*in 2 years we've never had to evict anyone and we've collected roughly 97% of rent in that same time. 

Some of those include tax write-offs and increased return on your investment.

@Ashish AcharyaYes we will contact an attorney, I have some rentals now and am looking to increase my portfolio.

Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.amortization scheduleA table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan.

Standard acquisition fee is 2% of the purchase price paid at closing and asset management fee is 2% of the collected income (paid either before or after the preferred return - your choice).

We figure we'll at least get close and we added a clause in the lease stating rent increases will happen annually with increased utility bills.

These prices are increasing because of you.