Hi @Anthony Caleca, did you end up buying the property (or any other properties) in E Orange?

Using a GOOD commercial agent, he set the price at 11.5 GSI - - within 10 days, we had a bidding war and we close at the listing price.I asked for a POF and Pre-Approval letter on all bids and we supplied 2 yrs of PnL and Sched-E upon acceptance - - and we were racing to COE.Some agents are no better that a FSBO and IMO, that's what you're running into.

Banks will look for a two year history of income (whether that be rental income on the Schedule E or income that flows from an LLC).

You will need to have net worth = or greater to the loan amount and anywhere from 10-30% in post closing liquidity to qualify as well.There is no DTI and it you can get non-recourse debt then the loans don't follow from property to property as you try to get additional loans.

Is there any way of removing negative items on your credit report before they expire off.

The area is appreciating there are developers who are coming in buying a few houses letting leases expire and demolishing and building new.

Don't touch your money for vacations or other non-investments.Stocks are much more liquid than real estate, and on average earn 5-10% annually which trumps savings accounts.

What to do if I fail to find an end buyer by the time the Purchase Sale agreement I signed with the seller expires?

My tenants lease expire in June this year.  

Cold call expired listings.