You can buy a sizeable house for around 30-35k pretty easily, and with section 8 you are automatically getting most of your rent due every month. 

At this point it doesn't seem to make sense to trying an get funded before the specified closing date in a few weeks, so we are looking to not move forward with the purchase.We are being told we can terminate our offer at any time we want, and get our earnest money back due to "not receiving proceeds from sale" or "not qualifying for funding"The way we are reading it is that we need to let the contract automatically terminate on the date specified in the contingency form, and potentially keep trying to sell our house, to get the earnest money back and not be in breach of contract.We want to be sure not to lose our earnest, and do everything according to the contract.Thank you so much!

So Why did you think you could just automatically get 70% of the value on day one ?

HiA small suggestion:Anyway to automaticly (I know I spelled it wrong) follow a discussion that you commented on?

Some are automatically transferred from your Cash Flow expenses (water/sewage, insurance, property taxes) while others (electricity, HOA fees, etc) need to be added by you within the Rehab worksheet.  

So a $61,500 mortgage amount will be an automatic decline.3.

It's not automatic and requires an advance planning.

That being said, they will automatically use 75% of the rental income if you have a renter in place with a lease (most lenders will want a year long lease).

Would like to get set up for automatic emails that meet our criteria. 

The Calculator will automatically transfer any expenses you include in the cash flow analysis (loan payments, insurance and taxes).