@Eileen MurrayI think this Attorney is going to claim Breach of Contract.Although the Seller to this day cannot deliver Marketable Title 8 months after the Contract Signing due to ongoing litigation with his step sister, Kevin is seeking to buy another property because of the Interest Rate spike.He originally locked in 8 months ago at 3.875% 30 year fixed, 1.2 Million Loan.

@Rozelle Wilson first of all congrats on "going pro"!

We want an ongoing relationship where we do 5-20 deals a year together.

Right now I am working on a plan to do just that with others I know who like you have the assets/equity but no time or down want the day to day headache where I would do all the finding, acquisition, rehab if needed and ongoing tenant management. 

If the borrower does not have a history of renting the subject property or if, in certain cases, the tax returns do not accurately reflect the ongoing income and expenses of the property, the lender may be justified in using a fully executed current lease agreement.

Because their value is rising at a faster rate than than the ongoing cost.

I have no experience investing out of state, but always caution people on going out of state.

This second runs until 2022, so I believe those ongoing missed payments leave the clock running. 

@Raymond Kovats, either way, my question is: will renting it out cover all its ongoing costs (including the HELOC/Refi loan)?

If lender's experience is a rather integral part of the transaction and it's on-going operation it would make sense to have a premium over just a passive capital rate.