Some facts and numbersPurchased house on Dec 31st, 2014.Original loan  of 100,000, 4% interestPITI payment 743.64- we re-evaluated actual taxes and insurance cost every Jan, and I wrote an extra check for the difference each year.Each payment was direct deposited into my parent's acct on the 1st of each month. never late. 12/1/18 when I paid 8923.68, for Dec of '18 thru Nov of '19 wrote check for difference in taxes and insurance jan 1 '1912/1/19 started regular payments again.I have an excel spreadsheet with my amortization schedule, and with no modifications, it says that on 11/1/20 i had a balance of 88661.28. 

I'm totally jumping to conclusions but there might be something in his financial or criminal records that necessitated his mother essentially hiding him from you since he would have needed a background check.

The governing documents should have strict guidelines that cover all aspects of the association from the Board's rights and powers, to a code of conduct of residents and renters to a process for making exterior modification to individual units.

Keep in mind you can refinance again when rates drop OR if you are using a portfolio lender you might be able to ask for a loan modification when rates drop and get the rate reduced OR you could opt for a adjustable rate loan where the rate resets every 3 or 5 years.

@Brett WagnerYou could do this as a loan Modification if the existing mortgage/deed of trust is recorded.

@Andrew Street     @John UnderwoodMy condo building does not allow modifications on the door facing outside/hallway.

Foundation damage can range from some superficial cracks that can be patched over to significant structural problems that could cost tens on tens on tens of thousands to repair (or may not even be worth repairing, and might necessitate a full demolition of the house).Personally, significant foundation/structural issues are one of the things I look for first, and I generally won't buy a property at any price if it has significant structural issues. 

I'm not enthralled with this strategy because (1) should tenant go belly up, you may have a lot of trouble re leasing the property without making further modifications (2) one tenant default equals 100% default and (3) credit tenants pay only enough rent for low returns.  

During our rehab process a big unexpected cost came up, missed by appraiser and HUD consultant alike (a modification to bring the space to code, but was not noted before or included in the rehab and loan cost).

Assumption for modifications to the property to force appreciation at roughly 5 to 7 percent first year and a YOY appreciation at 2% My thought is to secure the property at FHA then refinance to conventional...do you feel that makes sense or could there be another option to make this the right deal??