This story is almost identical to mine. https://www.courtlistener.com/docket/68037763/north-haven-lo...https://www.courtlistener.com/docket/68086281/seiler-tucker-...

But Lo and Behold, you will have state regulators and prosecutors, coming after you, painting you as a Devil incarnate to make some headlines and parade themselves as protectors of poor home owners, who are set up and guaranteed to lose their homes when they have no options to reinstate the loan a day before auction. 

The banks you are speaking with either do not originate conventional loans or the LO simply does not know how to originate them.  

A good broker or LO will answer all your concerns about qualifications, concerns, and cost 

I couldn't disagree more,The cost of deals falling apart because of incompetent LO's alone is far more costly than dealing with a broker.Even more so, as a broker; clients come to me with term sheets from direct lenders all day long and I beat them hand over fist.

Quote from @Chris Lo: I may be renting out my house sometime next year.

L/O is a great strategy but you need to learn how to do it and do your due diligence.I am just buying 2 more properties using this method.

If anyone is going to tip toe into executory contracts (CFD or L/O), you should be able to cite chapter and verse of Texas Property Code, Chapter 5 (Conveyances), Subchapter D (Executory Contracts). 

Working with an LO that is willing to have hard conversations as soon as they come up can help set expectations throughout the process.  

I lined some prospective new tenants kind of took my time, was picky, didn't find the right tenant yet, plus I had to get in there and paint/repair etc  but towards the end of the 60 days I was showing the place to some i thought was gonna fit and lo and behold the tenant calls me the day he suppose to be moved out and told me he changed his mind, going thru personal stuff and wanted to stay.