All Forum Posts by: Mehran K.

You might want to reach out to @John Fedro . When I hear MHP, I think of him. Maybe he can help out!

Welcome to BiggerPockets @Tim White , thanks so much for introducing yourself to the community! I'm not sure of the profitability of the specific market you're mentioning, but deal with rentals from a distance is definitely possible. All of my rentals are out of state rentals.

There are lenders that lend for loans for under $50k. But if you're looking for financing, you'll need to do request that in the BP Marketplace. I've edited your original post to conform with the forum rules!

See you around the site!

Not entirely sure what would be "fair" in this situation if you are just doing door knocking alone. But, maybe you can try to take some of the load by handling some other things in the process (providing marketing capital, file/bookkeeping, etc.) so that you can feel good about a 50/50 split? That's if you don't already feel it's fair!

It is my understanding that if there is 1 lot/parcel, it will go by unit count. If there are two duplexes, that will be a 4 unit transaction and will be considered residential (1-4 unit). They should be able to write a conventional/traditional loan on it. You may want to check that with an actual loan broker. 

I'd say it's a bit of both! There are many BAD PM companies out there and this happens quite too often. There has been a house for rent on my street (my primary residence) that I've been calling to get more information about for about 2 months now. I still haven't gotten a response, poor owner :(

Your origination charges, appraisal, title fees, etc. Any fees associated with the purchase/mortgage.

Also keep an invoice of your home inspection, wire transfer fees, notary, etc.

Save the HUD-1 from the closing to provide to your CPA for sure!

Thanks so much @Peggy Liu and @Nazz Wang !

How many sq. ft are each of the units in this property?

I'm curious about the 585 potential rent. I did some quick searching and the highest 1bedroom I could find was $550 for an 1100 sq. ft 1bed/bath unit. There are plenty of 2 bedroom units for the low $600's, some even $550.  How are you arriving at the $585 potential rent?