HI Anna,Are you okay with mentioning what that credit union was and if it was a residential line of credit or did you speak with the commercial LO at that CU? 

It seems the restriction from doing L/O in TX is the time allotted before purchase.

@Jay Lo Consider starting out with Cash Out/Refi first.

In that case your loan wouldn't have to pay out just a single LO, it has to pay out a marketing department and a pyramid of middle management salespersons (division VP hires 3 regional VPs who hire 3 area managers who hire 3 branch managers who hire 3 front-line loan officers - times 10 and you've got a multi billion dollar retail mortgage bank).In your case it just so happened that you elected to buy down the rate in an amount that happened to line up with his lender paid compensation. 

Rate: 6%, fixedTax assess: ClearTitle: ClearPanic Exit Strategy SELL DOM: FMV until exceeds 60, decreasing 5% every 30 days thereafterListing agent: 1.5% incentive for sale within 60 day windowSB Account: Net proceeds transferHOLD: Rent at 1% of FMV or $1,000 deposit L/O

All of my keepers are in a land trust with my LLC as the beneficiary if sub 2, or the seller’s name if I L/O it.

You mentioned making sure it will cashflow, doing a L/O with the seller for less then the amount owed on the mortgage payment will allow you to set the price at which you'll pay a month.

The other difference is that you will need to give your Loan Officer a copy of your mortgage statement for numerous reasons.You'll need to give the LO the following:1040's for 2014, 2013 (All schedules and statements)W2's for the same yearsPay Stubs for the past 30 days2 Months of bank statements or 401K, IRA etc...

(https://www.nbcdfw.com/news/lo...)

I'm going to start marketing for local properties here in California with exit determined by the deal (wholesale, wholetail, LO, buy and hold).