Making offers without a pre-approval letter is dicey, although it doesn't appear to be necessary (full disclosure, when purchasing my first home, I personally treated it as a necessity).If I was in your position, I'd likely try to pursue a means of funding first before deal hunting too aggressively.

My argument is that it's a way to be socially responsible, regardless of necessity. :)Re: #5: Yep!

Do you feel it is a necessity to have them or is it a dying form of information exchange??

It sounds as though it basically confess down to the fact that cash buyers are easier and more convenient to deal with (no need to get approval, official inspection or appraisal is not a necessity, less probability that the buyer will back out last minute)

If you are selling out of necessity for money why would you take the lower offer?

We stumbled on our first investment out of necessity of me working in a different state than was currently living and it made more sense to buy than to rent.

The PM's who do not enjoy it but do it out of necessity the property tends to suffer as the PM wants to do the minimum until they can find another job.

Is having a liability insurance a necessity and what circumstance/situations it mostly covers?

If you were trying to buy a second house 10 minutes away from your current home , even if you claim to intend to occupy it, it is pretty much clear that your intention is to acquire a rental property and aren't moving out of necessity.

A lot has to do with the investor's abilities, the market conditions, etc.I have done both over the years and in my local market, it is a necessity to redevelop to create a spread as the flip deals are difficult to find.