You may, however, wish to consult with the Department of Housing and Urban Development to determine their rules regarding real estate sales and the arranging of FHA loans.

I provide them the tenant's name and phone number when there's a problem, set some guidelines about what I'll pay and what needs a call back prior to work being done, and then have the tenant and maintenance person arrange the time to do repairs.

entering into an agency (agreement) with real estate broker that involves you as a buyer simply means that the broker is working on your behalf - meaning - you're the client and the sellers are customers.a broker or a sales agent that you enter into a buyers agency with simply give the broker of record an exclusive right to help you - you can't go off and close on real estate without them - for you, this type of arrangement is good because you have the piece of mind that the broker/agent works for you (you hope - even with agency sometimes agents get mixed up with this because it's the little things that make or break agency).as far as using an agent - they might be able to run comps for you, let you know certain things about a given area pertaining to rents, values, general info about the locale that may help you find the best for YOUR money.know this about co-ops - you're not buying real estate - you're buying shares and in return you obtain a proprietary lease to a unit which is owned by the corp.

I also arrange them by risk.

Loss mitigation techniques include the following: Special Forbearance, in which the lender arranges a repayment plan based on the borrower's financial situation and possibly provide for a temporary reduction or suspension of payments; Mortgage Modification, in which the lender reduces the monthly payment and/or extends the term of the mortgage; Partial Claim, in which the lender obtains a one-time payment from the FHA insurance fund to bring the mortgage current; Pre-Foreclosure Sale, in which the borrower avoids foreclosure by selling the property for less than the amount necessary to pay off the mortgage, and Deed-in-Lieu of Foreclosure, in which the borrower gives back the property to the lender.

WVBaker,As you stated, I suggest that you arrange financing before you look for properties.

@Antonio Bodley Yes, our company gives the owner $10 option consideration, just as you typically give $10 consideration on a deed when you buy a house.However, I didn't realize what you were trying to do...Duplexes aren't the best property to find a T/B for, so if you move forward on this I would market the other side as either a LO or a straight rental.I also wouldn't look to move forward on this if you can't cover at least 2-3 months of the other side being empty, and you better know how to screen an applicant very well.I have the feeling from reading your post that one or two hiccups in this arrangement could really hurt you, so just make sure you have the reserves to cover yourself.Also, in this situation, the owner will most likely want at least 1-3 months or so as option consideration.

If owned together, I am sure you could arrange a larger discount buying all together.

I'm sure the lawyers have been through these arrangements inside and out, however, I would view that agent as being in an agency relationship with that attorney as the agent is drumming up business for them.

How much of this rent to own arrangement is in writing?