I can second that @Wale Lawal is amazing and knows what he's talking about! 

Sale Price$171,000 - $55,000 (Rehab) - $13,680 (8% fees) - $40,000 (profit) = $62,320 MAOFrom talking to other investors and doing research, typically a Novation allow more money to the seller, correct? 

If you talk to enough lenders that do office lending and they all shy away from the deal, that should tell you something.

Originally posted by @Don Spafford:@Randall Gonzalez I just now watched the Jerry Norton 10k webinar talking about it.

I am talking about the Alabama properties, quit taking things out of context. 

happy to talk but your location may  be different then where I used to do student rental.

You're free to call it "weighted deal" and there is no law against a bad deal - anything you can talk another person into is technically "possible."

I asked the question so I could make sure there weren't scenarios like this I wasn't considering.For context, I'm not talking about historical homes in places like Martha's Vineyard.

I just talked to two banks and they both said that they don't offer them for investment properties.

I wish we could have had a talk before you pulled the trigger on this one.