Prior to investing, I asked my coordinator if the loan was secured and she said yes, it was secured by their property portfolio.

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

HUD 4000.1 (I believe) is the latest HUD handbook and it goes over all requirements for originating the loan, including but not limited to occupancy requirements and exemptions.FHA occupancy : "At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year."

Tools were recovered and pest control was terminated.So we are naturally in a very secure area in one of the safest cities in CA.  

When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

If the agent is doing the marketing, finding the potential buyers and possibly working with other agents to help you secure a deal then I would still charge 2.5% for my listing services and 2.5% to any buyer's agent. 

It's impressive that you secured a deal like this with no renovations and turned it around the same day.

It isn't having paid off properties that offers security, there are still taxes, insurance, maintenance and management involved. 

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

The online eFile providers can do it for you, sometimes for free.Warning: Email is NOT secure, and you will expose your contractors to unnecessary risk of identity theft.