.$40 k off can certainly kill a deal.

That is usually what HUD list in the deficiency section - things that will disallow FHA programs.

But I am afraid that I will get deficiency judgment.

And YES, I personally think that buying more properties with that accessible money is best. 70 K could easily get you 2 or 3 "earners" F&C, which should cover the total 170K loan payment, and lower your probable vacancy rate.

I am doing a 203(k) as I will live it for at least a year.

K. it but after I’d just found out from one of the previous post here that we shouldn’t accept partial rent due to the delayed eviction timing issue, so instead I’ll tell her tomorrow I’ll give her a 3 day pay or quit notice on the 10th for the entire portion of the rent plus its late fee to just follow the procedure.She’d also told me that she’d her brother and sis-in-law moved in due to her brother is having cancer (terminal with 3 months remain); sis-in-law no longer have a job; for the reason she wants to spend the remaining time with him.

You file business tax for your LLC, and then from there you get K-1 per partners for your individual tax.

For the same reason I wouldn't charge a police officer if his K-9 unit lived with him at the property.

This is especially true if your RE investing doesn’t pan out, which is highly likely for exactly the reasons Tom K is saying.

If she gets foreclosed, she will be ineligible for a Fannie Mae under-written loan for a minimum of five years.If she sells short, she will be eligible to buy again (Fannie Mae standards) after two years.Lenders will pursue a deficiency judgment if she forecloses.Lenders may or may not pursue a judgment with a short sale.Finally, it's the right thing to do.