Additionally, I'd recommend going through our blog (link on left of forums), and specifically, reading the Meet the Investor interviews (link also on left of page.

In addition, property appraisal and inspection fees are set by FHA.

Dodgers will be good, but with the addition of a 2-time Cy Young award winner, I think we've (the Mets) got the stuff to make things happen in 08!

Lenders will consider the rental income on investment properties in addition to your standard earned income.

That additional risk is reflected in a loan portfolio (secondary loans or not) by reducing the LTV to 75% but this is not a hard rule in a portfolio loan, but generally accepted as being a more prudent banking practice.There is no seasoning requirement, generally, by any regulator but by loan guarantors and mortgage insurance that may cover a loan portfolio obtained by the lender or in hedging arrangements.

In addition, my city is VERY unfriendly to rental property.

I want to find an investor who will be my backer and who will pay all advertising costs in addition to a small salary to keep my debts current.

In addition to the ~$40 a month profit I make (after subtracting repairs, downtime between tennants, etc), I'm gaining equity, and it's been quite the learning experience.In the end, 40 bucks is 40 bucks, and when I sell hopefully I'll be able to make a profit on that as well.

Additionally, I haven't seen any pie-in-the-sky guru nonsense on this site that has been allowed to go unchallenged.

The prospective tenant will provide you with the Landlord packet, that will give you additional info, and requires you to provide additional info concerning age of the property, upgrades etc.