Have your closing docs out and know what ratio the county assessor applies to land value (ie 300k assessed value, $50k land =1/6). 

Just my opinionIt is clear that the original poster is upset - which they should be - but posting in every Norada post on BP that they were lied too without providing a stick of evidence on what they were told or providing what is in the offering docs - people want proof before taking a side - that is all we are saying.

My credit should be the highest allowable also and I shouldn't have problems with approval.Ok, i shopped about 80 lenders (based on Fridays rates, market is closed so no live pricing)Conventional Full Doc loan you would be at 7.875% if you put 20% down (you said what the house was worth, but not your purchase price). 

Get your basic estate docs in place before building a complex entity structure.  

From not having an attorney draft the docs, to trying to cheat the system with the deed in lieu to not professionally servicing the loan.

For my personal portfolio I use a modified spreadsheet amortization by VERTEX, available in Google Docs.  

The inspector wanted me to add 2 screws to anchor the condenser and he did check for leaks at the gas connection (the gas connection that was flagged was decades old and I questioned if was before a permit was required but city stated it was up to me to prove that it was there prior to permit requirement).

If I had a bunch of houses and hired a plumber to fix a leak in the first house and he “fixed it” then six months his method fails.

Rates that low don't make sense especially if they're a no doc shop.

Spend what’s needed to upgrade with reliable mechanical systems, roof that doesn’t leak, remediate all mold; interior design modernized; in other words a place that will attract a higher income no hassle tenant.