It was made up by landlords to describe a property that has had the minimal - and I mean ABSOLUTE MINIMAL - amount of work done to it in order to get a renter. 

Hard money lenders cannot lend me the money as the 65k x 2 properties is too low of value.   

After analyzing I came up with the numbers listed in the below report (repairs are on the low side as much not needed according to current tenant).

But for now sticking heavy towards wholesaling but I heard a BP podcast on notes and thought they seem to be low risk for cash flow.

So I would be able to skip the refi of my current home and move forward to getting pre approved for a new loan with a low down payment. 

We absolutely love ours and would be happy to connect you with them to chat.

This is made easier by the historically low interest rates we are enjoying now, where it is unlikely you will want to refinance that 30yr fixed any time soon (as you’ll likely pay a higher rate).

No idea if this is allowed in my city/county, but I absolutely love this idea!

Make absolutely sure you have them sign a lease, just like any other tenant and hold them to it.Think long and hard about renting to family.

Low overhead and I will never out perform or underperform  the market.