What are your closing fees, how long will it take to repay those with the increased cashflow?

The single family homes attract a unique renter and also have the ability to be sold for a higher value if home buyers for primary residences return in force.

The prior owners we're definitely sloppy DIY'ers with many "unique" fixes to a slew of issues.

@Erik Dwyer,When you go to the bank make sure you take you last 2 years tax returns and have a exit plan how you will repay the loan and let the banker know you will give your investment property as collateral.Joe Gore

Or be held responsible for the statements the borrowers made about their ability to repay that turn out to be false.

You can determine expected performance based on past performance and make adjustments for expected economic conditions.None of this can accurately be done to a property.The first issue many small investors have comes from the very basic understanding that real estate is unique, there are no two identical properties on the face of the earth.

Provisions of the Dodd Frank Law created the ATR (Ability To Repay) rule and QM (Qualified Mortgage) safe harbor.

That's a pretty unique benefit of BP, you have direct access to the top notch investors they bring in for podcasts.

We have this on a one page sheet and the buyer signs it.The seller must send an Auth to Release Info to the mtg company so the buyer can verify the house payments are current.The seller must report to the buyer when the mtg payments were made.You can either have the seller e-mail the buyer each month, or use a servicing company or I've had owners create unique logins to their mtg info online and the buyer can check 24/7.There are other small things, such as not withholding a rent credit for a late payment, but that all makes sense.Keep in mind...the law specifically states that ONLY SPECIFIC ITEMS OF THE PROPERTY CODE RELATE TO A LEASE OPTION.Also, the seller must have fee simple title, which is no big deal as that is how we hold title in TX, but you can't (per the law) do a SLO.

Just like self-directed IRA it allows you to invest in alternative assets, but offers some unique features that are not available with SD IRA, which make this plan superior to SD IRA and Checkbook IRA (IRA owned LLC).