Then I increase it 15% to cover the abuse that is so common when utilities are included.I also recommend putting a cap on what's included.

Because inventory is so low right now, going direct to seller may be your smartest move.

Is a down payment normally required on the loan in this case since there is so much equity already in the property?

The whole point for the sellers of sight unseen is so you take it whatever it is so most won't want the contingency unless it's just a tenant not allowing access issue.

That being said, most Lenders aren't even underwriting pre- approvals right now due to how busy everyone is, so a mortgage broker looking at your file is usually as good as it gets. especially when you will be purchasing a rental property. 

We need strong representation and so far I have not seen it, our representation is so fractured because it is state based.

The market is so hot right now that it’s very hard for a first time home buyer to get an on market deal.

The problem here is that since Indy market is so hot most wholesalers don’t accept offers besides cash.

It's only a good deal when everyone wins" is so much more powerful than..."

My stance is lenders are going to find a way to approve lower quality borrowers, in order to keep the denominator as high as possible and not needing to pass on these presumably very lucrative loans.Joe Spitrock, on here, was mentioning how most major lenders are well above that 7% threshold as it is, so something major will need to change to accommodate this new rule.How it will effect BRRRing: assuming my first comment doesn't come true, is rates will be going up to reduce demand, and more investors will begin looking for balance sheet lenders.