It does affect the mortgage and it can trigger a due on sale clause. 

Until the buyer actually submits a signed cancelation under the inspection clause, the seller is stuck with the contract, no matter how the buyer attempts to negotiate a reduction.In fact, a buyer can submit an addendum for acceptance with a price reduction or repair credit, without triggering any cancellation of the contract, since the Buyer has not actually canceled the contract.

For one thing the borrower has “alienated title”, triggered the due on sale clause, if nothing else.  

Okay, just make sure you have that refinance locked in before you pull the trigger.

You might just find that both of the stormwater drains just need a good clean (sort of like when your bathroom drain gets clocked with all that sticky, guey hair that needs to be pulled out from time to time). 

@Christina L.In Pennsylvania, transferring the property in your scenario will mostly likely trigger full realty transfer taxes.

There is some talk on wanting the IRS to clarify if it must be capital gains or if ordinary gains would qualify as well due to certain language that only refers to "gains"From what I have heard the reasoning behind requiring capital gains to fund OZ investments is to trigger sales and spur economic activity (you must have a sale to trigger capital gains) as well as to get some idle capital gains taxed even if they are deferred until 2026.

Once you rent for X amount of time it takes to save a more sizable down payment (20-30k) you can pull the trigger with no fear because you know your market.

I'm pulling the trigger to submeter water and sanitation at an apartment.

So Greg, Did you ever end up pulling the trigger and using REIVault?