It was disapproved and the MC did the work anyways.

Just received a disapproval from the mortgage lender stating that due to the condition of the property they are not going to finance me.

BTW, what if the entity they want you to buy is the subject of pending (or current) litigation or some form of governmental disapproval or other problems which you will then own.I bought a package of 30 condos in a condo association that was in very serious financial condition. 

They stated that fixing the road will cause their house to flood and they like the potholes because they serve as speed bumps to slow cars down.Are we allowed to fix the road despite their disapproval?

Since we had already told them we wouldn't purchase without full repair of the roof, we submitted an unconditional disapproval of their repair addendum.As of today, the townhome is pending a new sale.

That gets you most of the terms up front, but in the end, the attorney is going to disapprove the contract by default during the attorney review period and ultimately end up producing a rider with terms that should supersede the NJAR contract.  

Rents: unit 1 (3 bed) $975 unit 2 (3 bed) $1100All utilities covered by tenantsI am responsible for upkeep of well system(the solution used to treat water) and septic tank cleaningI am probably being more conservative of my expenses but after running everything i could think of,I will get a monthly cash flow as of right now before any increases in rent.Monthly cash flow: $195This house is on the older side (1900) so there is some work to be done, but it has sturdy bones.I couldn't take pictures of the insides because there are currently tenants in there (i can hear the moans of disapproval already)but being that they are both on month to month leases and I have yet to find any negative info on them, I'm going to see how this goes.However, I do have plans in place to replace them if need be.Once again, I want to thank everyone at BP (those who help keep the site going and all the members who add tons of content everyday).

Portfolio lenders, where they would just hold a meeting and approve / disapprove the loan and service it forever.  

Hey @Damien J MichaloskyBelow is a link I found online to the standard Purchase and Sale agreement used by a lot of real estate agents in NJ.http://www.wikiform.org/legal-forms/real-estate/pu...it always get disapproved by attorneys but at least it gets the ball rolling.

The Loan Officer says this has been escalated to the higher management for their discretion, as we have many files pending disapproval only for this reason.