Appraisal happens and the appraiser comes back saying the value of the property is contingent to a $100 reinspection to verify all utilities work. 

My point is that sellers will make the numbers look enticing; you need to verify all such numbers reflect some semblance of reality.If you desire me to make a case for investing local PM me. 

Although I know investors are flipping properties the subject house I mentioned above has a flip on the same street which is where I’m getting a lot of my numbers from as the houses are near identical. 

also important to clarify that it’s verifiable income, usually meaning some sort of salary.If someone shows you a bank statement with a bunch of cash or claims to be self employed making 500k a year but wants to live in your 750 a month rental obviously you should be skeptical.  

He has four identical townhouses in the downtown district that he has been AirBNBing out himself very successfully for the last 5 years.

So my question to BP members is: is there any type of verifiable document for rent roll and operating expenses other then a spreadsheet?

Is there a legal or statutory obligation that loan processor or underwriter MUST verify ownership of mortgaged property before issuing loan modification as the 2016 modification did not release the Original loan?

This can be verified with just a little research.  

I finally found my client a hidden gem: A 1150sqft 3/2 block home listed for $79k in an area with nearly identical $155-165k comps.

Is there a legal or statutory obligation that loan processor or underwriter MUST verify ownership of mortgaged property before issuing loan modification as the 2016 modification did not release the Original loan?