We did not receive their application and choose to let them rent.We do not have a hard & fast rule, but tend to operate the same way each time by default.

You may be able to offer more, but the 70% thing is not only because of hard money, it is a good general rule because rehabbers will want to see atleast 30% equity in the house in order to make money on the deal.It kinda make sense that most HML will only lend 65% or 70% of the ARV because they know that if they have to forclose on the loan that they should be able to atleast get their money back.With that said, some landlords will pay up to 80% of the ARV.

Tenant Screening Background Seach includes: Verification of identity, SSN, employment, and address history.

I have come to learn that MD has some very strict rules for "Foreclosure Consultants" and "Foreclosure Purchasers".

Short sales are a way for homeowners to avoid foreclosure on their homes and still be able to pay off their loan by settling with lender.As always there are a few rules to use.

Now, most of the sellers are using ebay as a store front and their starting price is simply the price tag and you can pay more if you want to, but why, when they just keep posting the next one that is identical to the 100 that went before it?

Please familiarize yourself with the rules of the forums. 3 of your first 3 posts were solicitations for partners.

The numbers look like this: Property price: $47,000 (our offer) # of units: 5 Monthly Rent: $1,900 Expenses (assuming 50% rule): $950 Down Payment: $10,000 Monthly Debt Service: $287 (20 years at 7%) Monthly Cash Flow: positive $663 ($130/unit)I've had the place inspected and it will take some money to fix it up.

The rule of thumb is that expenses (vacancies, insurance, taxes, maintenance, property management, etc.) will eat up about 50% of the rent.

I'm considering purchasing some properties in Southeast Florida over the next couple of years.Would anyone care to share some rules of thumb or general advice about vacation rental properties?