They may have mortgage so the price has to be enough to cover the mortgage and the taxes.

Not necessarily a deal killer, but you will need to find a commercial lender willing to underwrite you based on global income, experience, etc, and you will not get a 30 year fixed rate mortgage.

I’ve been in the mortgage business since 2003 but never turned the corner into investing (aside from a failed primary residence attempt in 06 - perfect timing, I know).

Hi, I did private lending to one of my friend , he mortgaged his investment property as first lien with me.agreement was that he will pay interest monthly, and he was almost regular on that.in July that property got  deadly fire, in August beginning he paid my interest for July and didn't mention anything about fire.today, he called me  and told that he wants of pay off(but he didn't pay last month's interest).I said OK start processing for payoff, but pay me last month's interest asap, then he told me that house went on fire and he is hoping to get insurance money and then he will pay, he has no money to pay interest .Now, my concern is should I wait and watch or I need to take some pre-action to make sure that I get insurance money since I am on first lien.That was my first ever lending :-(. 

The estimated mortgage is cheap enough that even if I didn't have any tenants, it wouldn't really be a financial burden, and would actually be only marginally more expensive than renting commercial space for my growing business.

Wouldn’t this be cheaper for you than hard money interest and up front points (those are fees just to get the loan)?

I would live in the basement and rent out the other bedrooms to cover the mortgage.

So, I'm in a situation where I own 3 rentals and I'm looking into mortgaging them to buy some more.My issue is that I'm a bit behind on taxes, I was living overseas for a while and while technically I was supposed to file taxes during the time I was overseas I didn't.

In this case, you'd be hoping to have a refinanced conventional mortgage of around $130k (not $180k), if the Seller would countenance such a discounted offer.

Depending on how high leverage we go, we will also structure a 3rd TD Shared Appreciation Mortgage.