Fannie Mae seeks renters

Fannie Mae is offering 2,500 properties in eight locations across the United States to investors who want to rent them out for a set period of time.  The locations are Las Vegas, Phoenix, Los Angeles/Riverside, Atlanta and three Florida regions, the house types are numerous from single-family homes to co-op apartment buildings.  The sales cover a small fraction of the 180,000+ properties Fannie and Freddie own and there will be strict guidelines for a qualified buyer.  Some of the guidelines are relatively standard for rentals, pay a security deposit and stable financially, others are more unusual such as the owners must have experience in property management and must have strong ties to the particular community.