It applies if you do it Before fulfilling the one year occupancy requirement for an owner occupied loan  If it was an investment property loan, you can do it the day you buy. 

I think we will be able to come to an understanding.Lessons learned to debrief from this experience (I know it isn't over):Start with a very defined contract preferably with a Quality Assurance step prior to payment @Pat L.Set quality standards from the start and be ready to move to another contractor at the first sign of non-communication or non-fulfillment of promises or not meeting the standards set@Brian PulaskiEven though I was stationed in San Diego during this renovation in RI, I had plenty of Navy members that would have been more than happy to critique anyone else's work.

The lot fulfills my own buying criteria.

You've fulfilled your obligation with your adverse letter, nothing more is required.

Yes Love the Metro Detroit area(my rental portfolio is here)The balance of price/rent/location is so hard to beat.These are the types of deals we have incredible success with.Purchase: $80k-$130kRent: $1200-$1500ROI: 10-14%Cash flow: $250-$350/doorAppreciation: Double digit (for past 10 years, will gladly send data)Location: C, B- (suburbs and certain markets)We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, mortgage, Amazon fulfillment, and more jobs.The bad reputation comes from OOS investors wanting $20k D market properties.

If your lease agreement doesn't specifically state what the termination penalty is, then it's negotiable.You're obligated to fulfill the terms of your agreement.

All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.The bad reputation comes from OOS investors wanting $20k D market properties.

Such transactions are far more risky than a normal lease:Triple net lease offloads these responsibilities to the leasee:all maintenance of any/every descriptionproperty taxesmortgage paymentsLessor collects rents and has ZERO expenses.It should be clear, that even though the leasee may have the obligation for the above, it doesn't he's solvent enough to fulfill it - - and that can create badly maintained property, tax liens and even foreclosure that you were not aware of.Roll the dice - - it's a Crap-shoot!!

You will be responsible for rent until the lease is fulfilled or until you find another tenant, so make sure that she agrees in writing that she is breaking her lease and will vacate the property by that date.

Being fulfilled in these different areas contribute to the other areas.What is the framework that you operate your life under?