In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Curious why you want to focus on multi-state and not close to home?

Quote from @Ryan Davies: We have heard of them but have chosen not to close deals through them since we have found better options.

Maybe you mean closing costs?

Close date comes and goes and still not a word from the seller.6.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.

However, if a deal falls through, we'll keep searching for more deals until you get one closed. 

Or the developer can close on the land at risk but they have a lot of capital when that's the case.  

If it's a QM you won't be able to close in a business entity like a LLC, although in some cases you can transfer into an LLC after closing.

...and the account is closed.