I suppose it's all about finding that diamond in the rough...Thanks again for the introduction and would love to stay in touch.

(or if you wish you could decline to sign earlier and show up on the day of closing - I have never done it myself but I suppose that is an option)There is no way you want to sign it and just hand it over to the attorney.

@Jarrett Winston Based on what you wrote, it sounds like you got a VA loan, which is supposed to be for buyers intending to owner-occupy their properties, and used it to purchase a single family house that you intend to rent.

I'd probably approach it like look - you're supposed to give 60 days notice if you're leaving, but if you're out by this date.

It will be very important to invest in the right area and product where demand and market rent will remain high even through a downturn I suppose.

We were supposed to close yesterday but, SURPRISE, its been delayed.

I was going to check around but if there is no chance anyone else could do 20 down on a multi family home, I suppose there is no use in trying. 

In all my years working as a trustee I never found what one would consider a conventional lender that would lend on an irrevocable trust (I assume this trust is for estate/Medicaid planning).I suppose anything's possible in the world of private lending, but the rates will probably be much higher than conventional.Which begs the question, "why the trust in the first place"?

I suppose there is no way for me to talk to the tenants and have them sign a lease before I close and make it effective the day I close?

I suppose if the #'s worked with all expenses included it wouldn't matter much,and I'm pretty sure loan insurance drops after 5 years as well. thanks again think i will look into them some more.