It was common practice to charge 25.00 for a credit report even if the report only cost the LO 13.50.

I am in Tx so I don't think a L/O would be a good idea.

My guy in Texas for LO's is @John Jackson and I look forward to working with him this weekend in Houston on the 7th & 8th.

Also bump it more depending on how un-savvy you think your distressed seller is, if it's a mortgage from before 2013 when they could pay the LO bonuses for pushing higher rates.If it's an ARM from 2005-2007, there's a chance it was one of the 10 year i/o, then amortized over 20 (eg, starting 2015-2017).

Lo and behold, there you have your property with 2 (or more) loans, and one is in foreclosure without a doubt.Of course, the borrower might be current on the first, in which case it won't fit your target (first probably won't short if it's current).

What I would do in that situation is to try to work something out with the buyer as Steve suggested or a L/O possibly.

That does not mean, however, that the LO necessarily submits all accounts to underwriting.

The LO allows for extended cash-flow and possible high capital return if the sales price is high enough and the tenant/buyer exercises their option.

@Curt Smith  is an expert in MH and so is @John Fedro who has an awesome blog.I welcome you to my blog here http://www.biggerpockets.com/blogs/3-reiskills-and...I look hard at seller financing with sellers that can not sell (SFH, not condos or THs) and pair them with high income but debt or FICO challenged buyers.I buy on sub2, wrap or control w LO or SLO, then exit w LO or Lease and ROFR.If you ever want to chat on the ph, see my signature.I like the votes your getting, by the way!

My speciality is Lease Option/Sub L/O for my Investing as well as my Investor Clients.