Are you referring to a STATE specific interpretation of the SAFE Act when you say that lease options are specifically mentioned?

That approval is necessary for closing...I guess it's how you're interpretting this.

Not sure how common FHA financing is in your market.As for the agent asking how much activity you've had, I would interpret that as an attempt to find out how flexible you are on price.

In addition NC courts say ""the licensing act should not be interpreted to require a licensee to be honest as a broker or salesman while allowing him to be dishonest as an owner".

I wouldn't even try to do this.For one thing, codes are subject to the interpretation of the inspector.

They interpreted an option contract to be unlicensed brokerage, and prosecuted J.T.

I say possibly, because usury law tends to be very vague and up to interpretation.

I'll try to interpret your numbers to make it easier to evaluate.Total for 2 duplexsPurchase price 800,000Down Payment 200,000Amount to finance 600,000Gross Annual Rent 48,000 to 72,000 (1,000 to 1500/mo/unit)Your vacancy, property taxes, insurance, property management, capital expenditures, repairs, maintenance and other rental costs will like eat about half of this rent on average.Your intention is to finance with an interest only LOC.

Clearly you don't have manners.Back to the thread, what one investor considers a deal has to do with their own interpretations and expectations with their investments, not yours.

HUD has recently publicized a proposed regulation that outlines what HUD interprets to be the requirements of the law and their responsibilities under the law.I don't quite see how a rent to own (lease option) agreement falls under the SAFE act