I prefer to have the least amount of banks as possible.Create a bank account that you already have a relationship with(Credit card or mortgage)The least amount of bank accounts is also ideal.

The bank and mortgage company we are using is giving us a hard time about us co-signing due to my separation and new job due to only having been separated a couple weeks now.

Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

I like the idea of the wrap mortgage and the capital that it can make available.

That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

It is in livable condition but needs cosmetic repairs.We are currently paying $1600 on a $220k mortgage and we want to sell and move to this home, but we would only net about $7-10k on the sale of our home. 

Whatever I do, I would need to do with a HELOC—effectively financing 100% of the property (down payment and closing financed with HELOC, rest of purchase financed with a mortgage). 

I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

However, if you made the property available for rent in 2024—meaning you actively advertised it, listed it, or had it ready for tenants—you may be able to deduct certain expenses like mortgage interest, property taxes, maintenance, and depreciation for that period.

Due-on-Sale Clause: Most mortgages have this clause, which could let the lender call the loan due if you transfer the property.