Knowing that should either 1.) make you comfortable in adding additional leverage (i.e. more debt) or 2.) nervous because you don't think you'll be able to service that new debt.   

But if you can wait for your money and help a buyer buy it I can get a lot more people through the house on lease to own, and get a better price too ""There are many people that really good income in a good down payment but they can't get the mortgage because they don't have too much debt or debt to earnings ratio.""

But it may be the only way to get started, which was our case.Whether you do government agency debt or private debt, you can get non-recourse for these deals, but it is subject to "bad-boy" carveouts, which essentially mean that if you commit fraud, the loan becomes full recourse.  

But as Bill Gulley stated (as well as David Krulac in his experiences) I've been there where a title binder would come back and I would run off chasing down judgment holders, lenders, debtors etc. trying to clear a title issue only to have my attorney say "well I'm pretty sure the title co. will omit this".

I'm in the process of building my primary residence so I am unable to incur new debt or pull funds from cash reserves since I have not closed yet.

Execute purchase agreement, pay off tax debt or mortgage debt and get deed.

Even if the debtor promises to remove subordinate liens and encumbrances prior to transfer of the property, he/she may not be able to do so, especially where there are numerous liens or judgments outstanding.

all the people i run across with equity in their homes i ask if they want to put that equity to work and be a debt or equity partner on deals in the Nashville area.

Average well over 20% in IRR due to principal pay down.I don't carry the debt or the risk.

I'm not sure if that law has changed in the last couple years but the last project I helped on the developer fee was a qualified cost so that was essentially how the investors bridged the gap in financing was by using their developer fee as their equity into the deal and the banks fronted the rest of the money from debt or sale of the credits.