Let's assume your credit is trashed because some one stole your identity six months ago through no fault of your own, and the best you can do is 4.375% on a 25 year fixed.

Also something to remember is if you do not have a policy written down and you "Pick and Choose" in the eye of the tenant you could be sued for a Fair Housing / Discrimination Lawsuit.. always put it in writing and treat every prospect identical...

will not cut it.This is the most common type of mortgage fraud, and underwriters are always on the lookout for it.

Since we aren't doing double closings anymore, what's the likelihood of paying a finders fee that never goes on a closing statement, now we can have new issues such as settlement violations, tax fraud and mortgage fraud.

Based on previous experience (purchased an identical house across the street from a sheriffs sale) we determine we can pay the back taxes and rehab for under 10k and rent for 650 a month.

Having a contract on the side can violate the masshousing loan and you can be held responsible for mortgage fraud if it's discovered.

Then you both get to share bunks in the big house where you get romantically involved with other people you may not want to be romantically involved with.If anyone doubts the validity of the above paragraph, I would recommend you google: "Minerva Sanchez fraud" or just click on this link. https://www.justice.gov/usao-edca/pr/bay-area-real-estate-agent-arrested-orchestrating-fraudulent-short-sale-stanislaus

Would you rather own a property that has a $500/month net positive cash-flow, or a property with $100k equity right off the bat ASSUMING that both properties are identical?  

Also; No homes like this have sold recently (last identical home $365k 2014) and there are 500 NOD and foreclosure properties nearby.If I can pay past due on loan and take property subject-to I can use the property or rent the property.For my wife's business, fine property on a street with similar fine properties.

The idea is not to misrepresent anything as that could and may be loan fraud (depending if you over represent or under represent your qualifications).