Just because the property can close in an LLC with a DSCR loan, does not mean the loan is made to an entity.

@Chris Magistrado, I am going to echo Rick: without checking the math, it seems close to accurate, in the theoretical sense that A*B=C.Take what I have to say with a grain of salt because I am not a "full-time" flipper. 

The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default.  

Hi Leo, its been years since I closed on a HUD property but you close on the property as soon as title is ready like any other property.  

I close on a triplex tomorrow in Marinette.

When you sign almost all mortgage closing packages, you are signing an Occupancy Clause that states you are intending to live in the home for 12 months.  

Quote from @Stylianos Kalamaras: Yes they are, they cost me $800 knowing they would not close my deal and waste my time, if I had any possible legal recourse I would take it they shouldn’t be allowed to operate it’s really sad.  

You can buy my book, the book from Brandon in the BP bookstore, or Every Landlord's Legal Guide by NOLO. 

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable.