They will end up being sold as HUDs or in some way like HUDs.Do you have a link or anything about this proposal?

Once or twice they transferred the money to my account on or about closing day and I paid by certified funds check written against my account.This does not negate your proposed strategy.

if they do, what kind of loan do i ask for or do i make an investment proposal to them ?

Jon, I'm not sure if the "language barrier" ;) is preventing me from making myself understood, or whether this type of arrangement really is unknown in the USA (which would surprise me).You mention an "investor", but I'm not proposing having an option to purchase as part of the arrangement.

Politico is reporting the AP story:"President Bush has dropped his opposition to legislation that aims to calm the chaotic housing market despite his opposition to a $3.9 billion provision, the White House said this morning.

Lease Options are next to impossible in Texas due to recent legislation.

Illinois may or may not have passed legislation on this.Subject tos can be done and depending on your market, they may actually get a little easier to do because conventional financing is drying up and owners are about to realize that they need to supply financing if they are going to get their houses sold.

Although that amount won't really pose any great financial burden for us if we don't rent it out, we plan on doing so.Before choosing this particular piece of property, I did some calling around to various rental management agencies to see what the proposed rate would be in that area for a 1BR/1BA if they were to do this service for us.

Not to mention that the Ca. governor says he will call back Sacramento legislators early to correct the 10-14 BILLION deficit.

I don't want to sound like a fool proposing terms that are way off nor do I want to be taken through the cleaners by the owner and pay through the nose.Thanks!