Typically transactional funding is not used for a rehab.

Scott, just noticed you're in Michigan as well, it's a typical bungalow here, the master is smaller sized and the closet will be basically sacrificed for the bathroom, maybe what would be left are shelves and I could provide some of those hanging racks for clothing storage

They will want their own appraisal, they will typically only lend 60-75% of that value.After searching for years, I have found one in MI that will work like this/

I haven't found my first property either and it seems that there are many of us trying to jump into REI along with typical homeowners.I check for 1%(2% rule doesn't happen out here that I can find) and also the 50% rule as quick checks before using the spreadsheet. 1% would mean that you would need to get it for $130k all in.

Typical bank loans are "recourse" loans.

I also like that it takes little to no cash and we won't have to transfer the deed.My first question would be, what do most subject to investors typically do to find a situation where an owner is looking to willingly get out of their current situation?

So to avoid any double taxation issues, the state of residency will typically provide a credit for taxes paid to the other source state.

A home is typically easy to repair, fix, you can hire subs for this.

Typically the home must be removed from MLS for 30 days prior to allowing a refinance in almost all conventional loan settings.The approach here is admirable.

What's a typical fee, percentagewise?