I'm just not sure if the bank/servicer are obliged to bid the market price minus the Net Value cost factor (15.95%) or the balance of the loan.

We have separate bank accounts and credit cards so for us there is no need for any additional software etc.

Much of it depends on their age and their other plans.You can always refinance with a traditional bank at that time or renegotiate the promissory note with the owner at that time.Even if 30 years; the owner still has the option of selling the note.So, you can negotiate what works for both of you.

Buy them from the owner, if you mean the foreclosure auction.If you’re talking about a bank owner REO, you won’t.

A bank may not be hugely interested in lending on them because of their condition, but you should see what they can offer.

Banks look at the last 2 years of income to see if you qualify for a loan, not sure of your income in that time but speak to banks in your area to find out.

Speak to a local bank, they usually look at your DTI and see if you can qualify for a heloc.

I'm curious if anyone has any insight on hosting a wedding at their primary residence.

If you go all cash or hard money then you could use an LLC.If you're doing rentals and borrowing from a bank, you should do a partnership agreement so that the down payment doesn't appear as a gift.You'll need to weigh your options.

Most banks will work from NOI, but expect you to set aside part of the profits for Cap Ex.