Since you want to rehab an investment unit, I don't see how you qualify for the 203k loan program.If your mortgage broker knows your intended use of the unit that you want to finance with a 203k loan, your broker appears to be enlisting you as a co-conspirator in mortgage fraud.The penalies are a heavy fine and/or prison.

You will still need to pay a co -broke of 3% if someone brings you a buyer, but thats not bad.

Be careful when talking to his present landlord who may give a glowing reference just to get rid of the tenant.You can ask for a co-signer on the lease, you can give him a month to month lease, you could ask for two months in advance or double security deposit.The prospective tenant was up-front with you, you could have missed the so called eviction when doing your research.Take a closer look, he might be the best tenant you ever had.Make sure you look at the house they are living in now, unless it's their car.CharlesCharles should probably specify where most of his rentals are located.

Jon, I'm sure someone will disagree with me, but commercial loans are not written with assumption provisions unless the assignee is originally underwritten, such as a co-borrower and it is known that say a business interest will be convey later on.

Sure, the lender may not know, but if they specifically told you, "We will make the loan only to you, not a business entity," and then you thumb your nose at them and transfer the title to the property (and they find out about it), I predict a bumpy, unhappy, and short-lived relationship.You should be able to put the collateral into a business entity and then either do a personal guaranty for the business borrower, or, for an even more "belt-and-suspenders" approach, be a co-borrower alongside the business.As for your personal liability risks (non-debt related), you can cover most of those with insurance.

I'm a co-contributer too on a free google site, google is a better platform that office live.I've heard good things about VRBO but just can't fork over the $350 they want yearly, yet.

Then offer that tosomeone to partner with and have them as a co-/primary borrower.

I found a co. that may be able to replace the springs.

If so, can I further protect myself in any way, such as using a co-borrower or having my sister purchase the house and I pay the mortgage amount to her?

Sorry, I never updated.Our credit union turned out to be a real pain in the chops when my wife applied for a mortgage on her own without me as a co-borrower.