Q2 is most important: If the mortgaage is upside down, it would have to be an approved short sale and that could take a very long time to rectify.

Next issue, I know we had BP members who taught real estate at state approved schools, that would have qualified, but what  tossed them out of the ring was they also taught beyond their qualifications, such as in finance and got it wrong!

@Anthony Becerra I believe you are looking for a pre-approval letter.

He did his own market research on the property, and got back to me right away with his thoughts, and his stamp of approval.

Research ways to use your education to help you qualify for a loan (did you know that some lenders allow college credits that translate directly to the line of work the graduate pursues to count towards work experience, accelerating the borrower's opportunity to get approved for a mortgage?). 

Generally speaking the #1 "problem" I've seen is near end of term buyers get approved for mortgage, approved for a lot more then what they need, start looking at home on the market at that higher approval level, then say they changed their mind and bought a different place so asking if seller would just donate back the $ they paid on this one. 

5) If approved, how much will they want upfront, when can they start and what's their expected completion date?

-22 years old-$50,000 pre tax income from business this year-80k in savings-30k in investments-pre approved for $350,000 (had to use parents as co-signers because I started business 2 years ago and didn’t make much first year)Looking to get into first house by house hacking a 4 bed 2 bath renting out 3 rooms.

I’d be happy to walk you through the process, from pre-approval to closing, and provide guidance on the best mortgage products for your goals.

How can a person/company do the following in 5 hours.Drive to the property.Inspect the property.Create scope of work.Send scope of work to owner for approval.Get approval for scope of work.Drive to store / supply house #1 for materials.Shop for and purchase materials at sore / supply house #1.