Deed Restrictions

[Blake Byrd]

I am going to submit an offer on my first personal flip property, I have done several with my current employer, but this one is my own money. 

I have a few questions regarding the re-sale of the property & better understanding deed restrictions. I will be using a Fannie Mae loan and putting 15-25% down, depending on what terms I agree upon with the lender. I am paying the renovation costs myself. The property is being sold as is & with the last deed transfer on 1/28/15.

After I renovate the property what are the restrictions on reselling? Do I have to wait 90 days? Are there restrictions on financing for the person that comes along to buy? 

I assume that because I am paying for the renovations myself, there is no restriction to how much I spend on the renovation? Will I have to prove what I spent to the buyers lender?

Finally, my lender is telling me that I cannot use a Fannie Mae loan under my LLC is that correct? He said I can deed it over after the purchase, but would loose my title policy rights by doing so. The lender is also telling me there is no pre-payment penalty with them... Are there other pre-payment penalties i am not seeing?

Any advice would be of great help!