this is a REO property, approved for short sale for $225000, 6 units all occupied, its listed that theres no work needed but havent checked inside yet so not sure
rent income: $49800/yr
Expenses: listed as $17500 but with my calculation, around $24400-25600
NOI: $24200-$25400
i have a house on sale and i will have enough funds to cover dp, but until then i dont have funds to purchase the property. also, agent told me that this bank does not accept proof of funds letter from other lenders, only wants to see copy of cash in bank acct for commercial buildings. is this normal? (havent check with bank yet). so how can i go about making this deal work?