I'm curious as to how you plan to lease it out? 

I know I could do a lease with an option to buy and just keep the mortage as it is. but I also know I could do seller financing and do away with any responsibility to pay for insurance or anything like that.

.: A family member quit claimed a property to me 5-10 years ago, and I leased it back to them.

In metro areas, you usually have more liquidity when it’s time to sell and a deeper renter pool, while rural markets can sit longer both on the leasing and resale side.

This is usually the fastest way, with less documentations.If you’d like, I can put together a draft term sheet once I have: Current rent roll & leases, rehab budget (line items) and exit strategy.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Do they meet at lease 3x rent amount in monthly income?

Hello BP community,
I have a 6 br home in stone mountain, with finished basement. Originally I wanted to operate a personal care home, however would much rather rent the home to an operator with hopes to negotiate hi...

Cap rate value is tied to the length of the primary lease term of the NNN leases.

Just set up the lease and get a long term tenant.