I have a similar situation in an apartment complex. 

A majority of those would probably be rejected by us for one reason or another, but it shows that the demand is there.There is currently one house for rent in a less desirable area, and it is falling apart.

I have a fourplex where one of the apartments are located on top of a garage.

These surrounding apartment complexes are relatively new and quite expensive.I was wondering if anyone has experience in buying a condo association and turning it back into an apartment complex or even cleaning it up.

The amount on the letter was higher than the sales price of the house. 2 days before closing (within the 25 days of backing out incase of financing not being approved) the buyers agent came back and canceled the contract, and provided a letter from the lender which stated 2 reasons for financing falling apart. 1) Insufficient income for amount of credit requested2) Excessive obligations in relation to incomeThe buyers agent also told my agent that apparently the buyers had purchased a car 3 months before they went in for qualification and the lender didn't find that account in their credit report and thus provided the pre-qual letter. 

I have come across a condo association that is VERY rundown (drugs and homeless) and not doing well at all, interestingly it is surrounded by multiple apartment complexes geared towards students.

The issue is that I just moved into an apartment so if I apply for a mtg, I don’t want to commit mtg fraud, but I also wouldn’t have enough potentially for a 20% down payment for a rental property loan.

I guess I am missing a part of the puzzle here.Is there anything that would prevent a short sale on a foreclosed property?

We just closed the deal on a 41 unit apartment complex.

Can I renovate this area to a studio apartment and rent it to a seperate tenant.