The simple test is this: If the roof or windows are worn out and need replacing, the HOA will pay for that.

You already noted this in your own analysis.Just using these simple rules, you should be able to tell that these numbers are not where we want them.To make this deal work, you will need either a significant discount on the purchase price, or have some way to substantially increase rents (or both).But remember, your goal is not to fudge the numbers to make the deal work, your goal is to find the deal that fits your numbers.

If Randy is happy without being on title and without mortgage documents then the simple answer is just create a promissory note.

It was a pretty simple flashing issue.

I wish it was that simple.

Hello BP experts,Simple (I hope) question:How do I obtain a mortgage for the property with low owner occupancy that is paid off?

@Christian Lincoln - regarding deciding on accepting a colleague request, I follow a simple rule; unless I already know the person, I will not accept a request that does not include some small introductory message.

I have found the simple (not free) solution is to have a good business insurance (General Liability) because it covers legal defense and many other things about your business, including injury etc... 

I would avoid a house that has most of the walls and electrical/pipes gutted.Many even have a working HVAC system or only require a simple fix but you don't always get that lucky. 

If you find you're having legitimacy pushback from sellers then consider operating from a doing business as (dba) status.Forming a dba alias is a rather simple process.