Institutional returns are very thin right now.

And have a tenant or two who just wrecks the place.Thank both of your for your replies, I am always looking for good information.Jon - I am definitely going to look into more financial institutions in the area to find a longer term before the balloon.

In other words, if something goes wrong and you cannot make the payments, the lending institution would go to the VA to cover their losses.

My general impression and experience is that most institutions do not prepare you for the "real world" and do not prepare you to start or run your own business.

Most REO sellers are institutions that do not want to see the buyer changing before the deal closes.If you are expecting to buy, close escrow and then later sell there is no issues other than short term gains are taxed at a higher rate.

Minna,All of the major institutions I have dealt with have a clause somewhere in there 4 to 10 page purchase addendum - that prohibits assignment. addendums are binding and it pays to read all that mundane legalese - you'll probably find a single sentence or two in there, somewhere!

Can I get a loan from the same institution or another bank?

Near Area's Major Institutions :idea: :idea: :D Thank you for your input!

Unfortunately he has to be nameless but he does massive REO deals with some serious institutions.

Low home prices/values possible easy terms with local gov't assistance (tax abatements) 10-15 years and a need for good rentals near schools and medical institutions.