McLennan CAD Property ID:xxxLegal Description (partial):xxx Block 3 Lot 4B 5 Acres 0.2083 ADDRESS: 2222 xxxx Ave.Waco, Texas 76706-2906DWELLING: The house and outbuilding(s) located at the above addressSELLER:Maria S xxxBUYER:Waco House BUYER, LLCTERMS:$xxx CashTerms and ConditionsSELLER warrants there are no outstanding “fix-it” letters or letters of demand for repairs, code violations, hazardous conditions or red tags from the city, county, or any other government agency.Offer is contingent upon BUYER being able to obtain a standard fire insurance policy.BUYER agrees to waive standard lead-based paint and asbestos tests required for older properties—years built from 1938 to 1952.SELLER warrants DWELLING is “hooked up” and serviced by city/county water and sewer providers.BUYER has observed marginal condition of roof on the DWELLING.

Hi all,One of the things we do is rehab and hold/rent single family and multi family dwellings.

Someone that has a single family dwelling doesn't need to carry as much as someone with a 200 unit apartment complex (ie. a massive fire in that complex could result in many injuries or deaths where in a dwelling your exposure (# of people exposed) is limited).

I was hoping I could invest in a property that I know of that is undervalued and end up with instant equity that would help me leverage another property, but it looks like it's not going to happen that way.  

So I landed some instant equity as well as my commission.It's a great building with a townhouse style layout around a corner.

At this point I will de-title the mobile home and make it a permanent dwelling. 

My advice to you is to get as 'expensive' a house as you can, because that's an instant 50% equity after 3 years!

Here are exemptions to Due on Sale(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

.- Derek I Lacy, CIC, CPCUAPARTMENTS Category: Real Estate and Rental PropertyDescription of operations: Apartments are dwellings built to provide residential accommodations for multiple individuals or families through a rental agreement.

yes as long as they put down a security deposit and with an agreement not to smoke inside the dwelling or they will forfeit the deposit.