Purchase price if lease with option, market rent, 12 month term with extensions, exercise price, etc.

Wholesaling has been recommended by a few other investors as a great way to get started and I have been researching it extensively. 

P.S. we put 1k Deposit paid $180 + 475 for appraisal and extension cost is 10$ per day starting tomorrow.

The other option is a kaleidoscope of residential mortgages which just sounds awful, residential loans are a PITA to apply for.If they were in poor shape and this was going to be an extensive rehab and value added deal my bank would structure it as an interest only construction loan for the first 12-18 months.

I wrote about this extensively in another post, but if you have to go the PMI route, ask the lender to give you LPMI (lender paid mi) and then buy the rate back down to where it was without PMI with discount points.Rather than paying 100-200 per month, you'll make a single payment of a couple thousand at closing. 

FR - 5397 - N - 05), “Federal Housing Administration (FHA): Temporary Waiver of FHA’s Regulation on Property Flipping; Extension of Waiver” , dated November 29, 2012 at http://www.gpo.gov/fdsys/pkg/FR-2012-11-29/pdf/201...View the Electronic Code of Federal Regulations at http://www.ecfr.gov/cgi-bin/text-idx?

I talked to quite a few references, had a lawyer buddy that lives in FL do some extensive searching to see if he could turn up any dirt, checked BBB accreditation, etc.

@Dave Godfrey have the potential borrower get an extension or pass.

Hi Troy, I have an opportunity to buy 40 acres general use, currently permitted for 100 campsites--which seems like a terrible use of space, but that's beside the point--and have explored the idea of a Tiny Home village extensively.  

My tenant sent me pictures today of her child's bite and its extensive.