Can not wait to see what everyone say as I am considering the same.

I also don’t like the idea of selling CA RE when I can just rent it out, build equity and have the option of mortgaging the asset to leverage myself into other properties.I’m a numbers guy and so a lot of this is vague only because we haven’t decided on where to live yet, and without harder numbers it’s hard to say a deal is going to work out obviously.

They, however, are booked out years in advance for premiums, and do not advertise.Second, I'll say a bit about my world, that is, the large commercial side of construction.

first time investor, and maybe some rehabbing experience, i would not recommend buying a rehab or flip property. yes you can do well if they are done right but you could also loose a lot if it is not. you two are young, i'm assuming when you say a quad by UT you mean student housing ?

From the way I understand it you're typically going to have a formal title search done after you win the bid because you're right, not worth spending all that cash if you don't get it.Also, just to say, a month can be a long way out for a sheriff sale and you often see them pull right up to the date, so don't stress about it just yet but just keep asking questions.

Interest only, say a five ten year balloon and no prepayment penalty.WIth your other properties encumbered you can buy new properties and then assign the needed collateral and release the other.Now, there is a scam type deal out there that has an agreement where a borrower can substitute collateral at will, at their whim and on any property they choose, very dangerous!

And, I can't help it, but if you're thinking of leveling foundations with that thing, raising piers and or say a garage floor, you better have experience, just having the equipment could get someone in alot of trouble, like maybe you!

Wow, I'd say much is portrayed with a high degree of over simplification.Consider when someone sells a business, say a toy store, that new buyer may be in a master lease arrangement, keeping the old owner responsible on the lease.MLOs can be seen as a financing arrangemet, tons of risks to consider in resdential, commercial, many laws like the SAFE Act don't apply, doesn't mean you have license to do whatever you can dream up.A seller can always hold the middle man responsible, it may not just be, "oh well, it didn't work out, sorry" and walk away.

But I don't think there are any laws anywhere that say a seller can't try to influence an appraisal.Of course, I could be wrong...but I'd love to see the regulation if it exists somewhere...

Prudent lending practices, not just secondary market guidelines, require lease-options with rent credits allowed to be viewed in light of fair market rents being assessed and only amounts paid in excess of fair market rents be credited for financing purposes.While you can agree to rents of $500 per month and credit say $200 toward the purchase, lenders won't accept the credit unless the fair market rents is assessed at $300 a month or less.So, what you have with agreements drafted in such a manner are two parties who agree to a credit thinking that $200 is being credited, say for 24 months allowing $4,800 toward the purchase price of say a $50,000 house.