i...FHA INFO #14-73December 10, 2014NEWS AND UPDATESTO:All FHA-Approved Mortgagees What’s New Expiration of the Federal Housing Administration’s Property Flipping WaiverToday, the Federal Housing Administration’s (FHA) Office of Single Family Housing announced that the temporary waiver of FHA’s regulation that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition ,expires on December 31, 2014.

Despite this prohibition, the Division still finds evidence that unlicensed people and companies engage in activities requiringa license.

Clauses that supposedly prohibit home child care that can't per federal law.  

On a recent short sale we did, there we had to sign a form certifying that the seller would not continue to occupy the property through a lease or otherwise..What is the source of this prohibition and why?  

The bank will prohibit assignments.The bank will require that you demonstrate that you, personally, have the ability to purchase before they will even look at your offer.The bank will require that the property not be re-sold for some period of time, probably at least 90 days.The bank, and I say this with all due respect, almost certainly has a better idea of the market value of the property than you do.

For most flippers the cost of doing it to best practices, will be prohibitive.  

@Gail GreenbergIf you are personally buying the property you will not be able to use your IRA funds for the rehab (you are considered a disqualified person to your IRA and IRA is prohibited from conducting any business with disqualified person, in your case would be lending the funds).

Both of these are prohibited in my lease agreement.

She told me that Texas State law now prohibits comps from being given out.

Read a copy of the contract, you'll see if it prohibits assigning too.