Just got a conventional mortgage and am getting ready to make an offer on a SFR.

But the list is a CASH/REHAB only.. the bank will not accept a FHA or Conventional loan, and the property needs major work.

This may have to be recorded as a part sale-part gift then if your parents are not going to charge full fair market value. 

If you live in the property you get some relief or discount.Every city charges a different rental permit/license, just need to figure out which city you are investing in.

You have to little bit more specific because it depends on whether you want HML or conventional lenders.

So,Buy $200,000Sell $220,000Built in profit $20,000Option fee I pay $10Option fee I charge $10,000Cash Profit to me $9,990My monthly payment $1200Their monthly payment to me $1600My monthly cash flow $400 each month for two years until they exercise the Option.I have 3 years to exercise my Option but I given my buyer 2 years to exercise theirs.

Kind of like someone who is self employed needing to wait 2 years before conventional financing is viable.

Instead of charging rent, he is a service provider for utilities and internet.

Loan origination charges of $30244.

I know a conventional mortgage is likely going to look for a 20% down payment.