These loans allow buyers to purchase a property “AS IS, WHERE IS”.Renovation loans are available in 30, 20- and 15-year fixed rate terms and can be used to purchase owner occupied, second home and investment properties.By time the renovations are completed, the home needs to be in move-in, live-in condition and conceptually ready to be resold without repair issues.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Maximum: Limited to 75% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesUnits: 1-4 unit propertiesRenovation Term:The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.

I have it written in my leases that tenants are responsible for clogs as well as damage from clogs.

If you’re unsure about their response, consulting an attorney or contacting the CFPB may help clarify your rights further.Hope this helps

We’ve found that traveling healthcare professionals are typically great tenants—responsible, clean, and reliable.

Hearing your story It is definitely worth to risk some cash for a much greater return in the future.Thanks for giving this insightful response. 

Quote from @John Tomassacci: Hi Brian,Appreciate your response. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck. 

Hi Jaycee, thanks for your response.

This gives you a more accurate view of the property's true cash flow and performance without relying on a large down payment to "force" good numbers.This is exactly what we do — help investors like you evaluate deals to ensure responsible purchases that lead to portfolio growth.

🙃Anyways, that’s again for your response. :) To answer your question about legitimacy - how do they get to $125k in damages?