If you are starting out with to little money to do this deal yourself, you have to know, that you will have to give up some of the profit to at least get the deal.Everyone, including banks, will want a fee or to make money.

In addition, if a seller is having to pay agent fees, that is all the less that they can come down on their price.

Insurance, advertising, tenant screening, legal fees, maintenance, evictions, the list goes on.If the net taxable income is negative (entirely possible with the depreciation) you may be able to deduct this against your ordinary income.

I've always heard if they pay the rent and late fees and court fees that that voids the eviction.

Probably a minimum fee.

(They wouldn't accept the appraisal from the first bank that was done a couple of months ago, probably because they wanted to make their fee.)

If the prime rate was to climb a few points, I am willing to bet all the banks will jump back on board.I have not had a problem with my HELOC from my credit union to date (knock on wood) and they seem to have the lowest rates, lowest fees ($0), and the simplest approval process.

I am not a broker so I will have to hire one (already know who to call for that) until I can set aside the time to go to class and try to pass the broker's test.I have a few people who "have said" they would like to become salespersons under this new company based on the fee structure and marketing I will offer.

Why would you pay those kind of fee's, when you have 25K sitting in the bank?

If you really got the deal at 70K which is realistic, and you put 12K into it assuming you were correct on budget, you'd have 82KHard Money fees will bring that to 87-88K (guessing??