That, coupled with the lack of reserves, can put you under.

Well, it worked, but only because it was already a smoking deal and I was just trying to shake a few more pennies from the cushion - otherwise, I would have walked and had my agent tell them to sell it to the other offer ;)On the plus side, I now know how this particular agency operates, and I will avoid their listings in the future.

Russ,  my point was about lack of affordable housing.. and 200k to 300k is below the national median and affordable.. so its up to folks that want affordable houses to buy what they can afford .this way they get out of being life long renters and they build equity etc..

Hey Zehua, The loan you're considering appears to meet IRA requirements as it's structured as non-recourse to both the LLC borrower and yourself as guarantor, except for carve-outs like criminal activities on the property, unpaid property taxes, and lack of insurance. 

The Federal Housing Finance Agency (FHFA) gave conditional approval on Friday for a pilot program allowing Freddie Mac to purchase SFR closed end second mortgages. 

There's no question our country suffers from a lack of affordable housing.

I came across a random podcast talking about FL's market crashing due to inflated cost with too low of a demand, along with refusal to cover storm/hurricane from insurance agency ( I admit I haven't researched the truth behind this one), assuming it pushes owners/investors to go to private thirds at a massive premium.

You're stacking risk factors - long distance (I think), first time STR investor, short on cash, partner to buy the land, lack of financing options due to land and non-traditional structures, and a little distress/hurry.

fortunately i did get professional help...someone i could trust and I had some helping hand and that made up for my lack of experience but it was still a journey...but the place is looking amazing....thank you!

Their communication is excellent especially compared to the lack of communication with the other company.