Hi @Brandon StewartIn general, homes that are in default in some way usually cost too much to bring current for a LO.  

If so and you then get a lower one you can always have the LO go back and say well you liked this other value so let's challenge the AMC.  

Right now, most Fannie/Freddie stuff, I keep my LO hat on because direct lending is a better deal.

The LO told me he thinks I am the last person Wells Fargo granted 100% LTV in Vegas.Back then everything was creating negative cash flow and the investment was all based on speculation of future appreciation after DTLV had been revitalized.My plan was to buy the unit for $670k rent it out for 2500-3000mo and cover the negative cash flow for a few years, wait for the revitalization to be completed and then sell for closer to $900k.

Michelle I could be completely 100% wrong with this but I was told a few years ago when I was doing some investing in Dallas that L/O were illegal in TX.

@Kerry BairdThat is indeed the possible result of RTO or L/O.

Lo and behold!

I had to explain this to family members.I am excited that the industry practitioner has evolved and does not have to live the secret wanna be life of an investor I just listened to a podcast with Pat Hiban which was good For someone like myself who happens to be the lo-key real estate agent with goals this post hit it on the nail for me.

Fannie and FHA would both typically require 2 years of tax returns, take a 2 year average, and arrive at $75k/12 = monthly qualifying income.Freddie, often times, will only require one year of tax returns, and go $100k/12 = monthly qualifying income.The LO simply must be smart enough to only upload exactly one year, if exactly one year is all the AUS is asking for.

Well there is no way to get to the basement other than narrow stairs as is common.I was figuring rumor.. we finally got possession I send my day labor in to start to clean away areas so we can do an Asbesto's survey prior to demo... and lo and behold full blown chevy in the basement... so I guess I am going to need a bigger machine to wrench it out of there maybe I can get a self loading log loader and a heavy duty chain and lift it out in one piece...