In the program, it appears that you offer a Pre-Loan Application-- perhaps this is how the program is legal?

I  tried several time to request application to get my money back but never got it. 

His "owner occupied" loan application is ok if he intended to live there when he applied.

Keyword "IF", as in if they choose to or if is even applicable or happens. 

It does many things to help you with Tenant placement like marketing, application collection and screening. 

The window for application won't open until what's now a draft proposal becomes law.

I encourage you to consult with a qualified attorney to ensure this agreement complies with applicable laws in your area.

Also look back on their application and see if you missed any 'red flags" so this can be a valuable learning experience for you.

Top line revenue - PM Fee (if applicable) - utilities - maintenance - misc costs of doing business.Good luck!

Even if you take the $250,000 the realtor mentioned it would sell for as your basis that would mean you're looking at an $80k gain: 380,000 - (250,000 + 50,000 improvements) = 80,000Since you want to buy a nicer home for your mom, a 1031 exchange may not be applicable if the new property is intended for personal use, as 1031 exchanges are for investment or business properties only.