REOs could be a great way to get instant equity.Removing those other criteria is good.

That's the price of the flexibility.If the place is substantially undervalued a really flexible small bank MIGHT go off of value rather than price, so if you are getting a screaming deal with like 20+% instant equity they could possibly go for just 5% out of pocket.Really the same thing if it is a junker and you did the Hard Money/Fix/Refi route.  

Justin:When Thomas asked about legal non-confirming, I do not believe he was implying your house is not compliant with building and fire codes, but was asking if it conformed to local zoning by-laws.We have student housing as well and it has been our experience that most university towns have occupancy by-laws limiting the number of un-related adults in a single dwelling unit (usually to 3 - 5) which are specifically aimed at student rooming houses.  

So many people listen to the first person that reaches them when this person may not even own a single property, but boy do they have a program for you to purchase that will make you an instant multi millionaire.

I almost instantly saw that there was something to this real estate thing.

. $49,000 instant equity.

I'm worried they're going to call it an Aditional dwelling unit and decline the loan.  

Though the Hotel and Multiple Dwelling Law provides that multiple dwelling buildings having a condominium or cooperative or mutual housing corporation form of ownership are under the Bureau's jurisdiction, the law also exempts sections of such buildings that: 1) contain not more than four dwelling units, 2) have at least two exterior walls unattached to any adjoining building section and where attached, are attached exclusively by fire-resistant rated walls, and 3) contain dwelling units that are owner-occupied (if both owner- and non-owner-occupied units are contained therein, only the owner-occupied units are exempt)."

I recieve many scam emails, that i could pick out instantly as half of them couldnt put a sentence together in english.one man has contacted me and sounds very upfront, blunt, and legit, but he is from a different state.. he offered me the loan at only5 percent??

Such acts and omissions include, but are not limited to, the following:(1) Manufacture, cultivation, importation, transportation, possession, furnishing, administering, or use of illegal drugs in the dwelling unit or in the common areas.(2) Illegal use, manufacture, importation, possession, furnishing, or discharging of a firearm or firearm ammunition on the premises of the rental property, except for the use or discharge of a firearm or firearm ammunition in cases of self-defense, defense of a third party, or as permissible in Section 13A-3-23.(3) Criminal assault of a tenant or guest on the premises of the rental property, except in cases of self-defense, defense of a third party, or as permissible in Section 13A-3-23.(4) Any breach involving substantially the same acts or omissions as a breach for which a notice to terminate has previously been provided for by the landlord and cured by the tenant, if the second breach occurs within six months of the first breach.