We own 3 rentals and decided to start a LLC for the next deal.  We found a property and plan to submit an offer over the holiday weekend.  My son is our real estate agent and it's his first deal ( we're his first cust...

Sometimes Lenders will use split premium too which is a combination of the above where you pay a lower monthly MI payment but you also pay a slight upfront lump sum.

You're worrying about something that most likely isn't going to happen and even if it did there is nothing you can do right now that would fix it because the bell has already been rung and the transaction is closed. 

If you can get the rents up, or lower the expenses by $160/mo you don't need to do that.

Do we have options besides lowering the price?  

Hi guys,I have a question about financing...Just considering options... say your wife has a W2 income from her job and you have a W2 income from your own S-Corp(and your business has been around for at least 10 years but with fluctuating W2 income) and then your wife considers taking a break from her W2 income to recover thoroughly from her illness... outside of the W2 income we do have $30k-$40k cashflow from existing rentals.How hard would it be for you to get conventional financing with this scenario (losing a more consistent W2 income - even though her W2 is lower than yours) to finance our SFHs purchases?

However, since we already own the property we avoid the transaction costs of selling when we move.

Rents tend to be lower there than say Dyer or Schererville, but the costs of homes these tend to be a little lower.Once other issue is your farm area?

It depends on how far away you are from having the money for a down payment, you might try peer to peer lending like Lending Club or even something like Realty Shares where you have less control over the real estate but a lower barrier to entry.  

Think the great crash was generally an over extension of credit, combined with extending credit to lower qualified buyers.