So after looking into it I found out that most landlords say in there lease they will not allow subleasing (OK thats fine, but if I'm offering them no vacancy, im sure they will accept my terms) So for example even if i dont offer the 5 year lease ( The man i spoke with just used that as his example because then he said during that time the owners would more than likely consider selling it as well..

Will the seller consider an owner carry with 10% down?  

I don't have any experience with them.however since they are CA based and did not post a CA BRE license number or CFL or NMLS I suspect they do not lend on 1 to 4 units as those require those above licenses if your in CA.Also I am always a little curious about those that say they lend from 20k to 20 million LOL.. no one can make a dime on a 20k loan... so thats curious.Lastly and this is just a personal pet peeve I just don't care for companies that don't list their principals and a small bio on their web page so you can look into the owners on google and make sure they are upstanding citizens.. again maybe its a marketing thing and maybe I am all wet but thats my preference I want to see who the principals are... they should be proud to put themselves up there ( again my pet peeve LOL)Just don't sent any up front money..

However, I've seen the full income statement from the last 2 years, and the previous owner hasn't been making nearly as much as I would expect, mainly due to high costs.First question: should I be worried that this is a lemon... or is it an opportunity?

If you are going to be rehabbing properties you can only pull some of the permits and that can be done as a home owner if someone lives on the property.

Owner has owned the property forever and I believe is free and clear.

I sold 2 building, and the security deposits and leases were transferred to new owner, as part of the purchase agreement terms.

So naturally I start trying to look in to owner info.

Having just received that check I come to find that all these extra fees have been deducted from the rent.Total Sept rent: $1675Fees from rent: Eviction court fees: $480Management company fees: $120Terminix, beehive: $189Energy bill: $1536 days rent: $334.98Total: $1276.98Total rent due to new owner: $398.02I did not keep on the management company at the time of closing.

IF it was not acceptable to do it that way, if I were willing to do an owner occupy multifamily (not thrilled with the idea but would consider it) would the gifted funds be acceptable then?