I found one that lends at the following terms: Interest Rate: 5-year FHLB + 3.00%, floor or 5.95% Adjusts every 5 yearsNo cap on rate adjustment (Note: Seems scary)Maturity: 20 yearsRequire 30% down.No prepayment penaltyI am wondering if anyone knows what has been the historical 5-year FHLB rate and any predictions on what it might be in 5, 10, and 15 years since the rate adjusts every 5 years.The no cap on rate adjustments is the scary part, but I guess I could prepay the loan if the rate goes crazy high.Does this look like a good options to secure long term financing if I've hit my 10 Fannie Mae loans already?

No wonder I keep telling people KNOW YOUR WHY!!!

I am wondering now if I am going to need to wage an expensive campaign to find one property per year.

Here's the BP guide to screening tenants: http://www.biggerpockets.com/renewsblog/2013/01/27/tenant-screening/ Gerald, not sure if I may be hijacking this thread in a different direction, but I think this is a good discussion regarding inheriting tenants.I wonder how many people actually do ANY tenant screening prior to getting a property under contract?

You might want to go knock on the doors of a few of the units that are occupied in the same neighborhood, and explain you're thinking of buying a unit, but were wondering what people living there think of the area, etc.Good luck.

ARV is a wonderful thing...but we don't buy any of the 4000-5000 homes a year that we buy based on ARV, nor, as a direct lender working with brokers on behalf of their clients, as well as direct with investors like you, do we lend on ARV.  

@Arthur Banks This is an older thread, but I was wondering whether you set up a partnership with your parents or just accepted a personal loan from them.

Call came in today from a DM campaign and wondering if I can make this a deal somehow:SFH ARV $140kRepairs ~$12kSeller Owes $116k (1st and HELOC)Tenanted at $1000/month - which is negative cash flow with existing loans and taxes.Sellers do not have money to use at closing to bring down the purchase price.

All H ML for me, I was just wondering if can out refinance would be a viable exit strategy for me with my personal situation.

Wondering if anyone has experience with canine liability insurance policies as it could save me from a turnover, keep good tenants (except for their lying on the application about the rottweiler, of course) and would be a good option to offer future tenants as well.