Additionally, Lenders can assist with a rapid rescore, working with credit agencies to guide you on which cards to pay down to boost your score.

I also could have sued him for my full commission because I had him sign an exclusive buyers agency agreement prior to the showing, had I wanted to.    

Check fees, as agencies usually charge a percentage of what they recover.Thank you! 

The agency will have some set of guidelines about land use.

And it is difficult for you to refuse to take their rent, as there are many agencies that will pay up to $10k in back rent and rent moving forward. 

Credit agencies ding you for having a statement balance.

Even if you have the down payment and post closing networth/liquidity, you will still need to meet the requirement of experience in order to get approved for agency debt.

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

The arguments for FHA versus conventional are fine and all, but one thing to be absolutely clear on is that Fannie/Freddie nor any other agency does NOT lend to entities. 

If they fail to pay, then you can consider taking them to small claims court or filing with a collection agency.