Not my bank stmt.No bearing on negotiations Each deal is its own llc with own business account.Its own mortgage or cash deal.So do you have your bank draft a letter verifying you have sufficient funds for the offer?

Your application seems to be missing something that goes a bit like this: I/We understand and agree that any missing information, or fraudulent or false or misleading information, provided on this application, is sufficient reason for rejection of this application.That would have rejected both of those tenant groups that you described.

Due to this I've decided to work 3 more years, build up a sufficient bank roll then quit my job as a Carpenter & become a full-time Flipper.Of coarse I have tons to learn before embarking on this but I have all the enthusiasm and motivation in the world!

What is a sufficient discount?

Would need to find the proper people to pitch it to and figure out how to pitch it...As of now my plan of attack is to build up a sufficient savings to quit my current job as a Carpenter and support multiple flips/year.

Or is it sufficient to take digital photos which are watermarked with the date?

Houses with peeling up roof shingles are simple enough, but those with peeling paint on wood trim might not be sufficient to mail a letter?

Is $1MM landlord insurance each sufficient or overkill?

I wouldn't have a problem doing it at all, but I certainly understand those who don't have sufficient experience with off center deals would not want to get involved.As each state began putting out their version of the SAFE Act I didn't keep up with all the variations, so it's best to check in your state law.From my last reading of the federal outlines, it appeared to me that the MLO was going to be about the same degree of difficulty as a real estate broker's license.....not much.

Different banks have different overlays.Long story short: If you meed the minimum credit score and the DTI ratio criteria, you can get a mortgage (provided you have sufficient cash to cover down payments and closing and any other cash reserve the bank requires).