I've definitely heard of major lending institutions who go off appraised value...even B of A will give you a HELOC on appraised value, but not above 90%, and certainly not to a borrower with a 550 FICO.

My CPA charges me $375 to assist me in preparing my taxes so there goes the $300.

I could possibly assist you on this matter---LTVs will range from 65-70 LTV on either raw land, residential or commercial zoned land ranging from 2500 sq ft up to 5K acres.

Lets say you are borrowing at 8%If you have $100k of net profit in the building then your net cash flow would have to be $8,000 per year to be indifferent.

There's also lots of material here in various posts, though it may make more sense if you take the time to buy or borrow a book on "pre foreclosure investing" that presents everything in an organized manner.

If I buy this property, how will it affect my borrowing power for a future investment or personal home?

If anyone needs any assistance with buying or selling in socal or Hawaii (still has contacts and license in Hawaii) please ask.

If you find good enough deals, you can borrow enough to buy the property and fix it up, then do a rate&term refi into a more reasonable loan.Jon

That offer some great investment oppurtunties.We also try and assist international developers secure funds for their projects.

He has stated that his main objective is to assist me in eliminating my personal debt and get me into my own home w/in 5 years, sooner if possible, and that profits on his end are secondary to him (I know, amazing friend).