Quote from @Chris Seveney: @Jay HinrichsI wonder as a broker if they needed to have a surety bond and could collect against the bond. most likely but its a small amount.. 

Remind them , how they felt back in July and how your deal edges against the amount of cash pumped into the economy (inflation). 

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

We have a decent amount saved up and have thought about doing a out of state deal but might be good to do a deal near me to start out. 

For example, if the lender uses an 80% LTV on the loan, but the DSCR is 1.10x (and their minimum is 1.20x), then they will reduce the loan amount until they get the DSCR to 1.20x.

Also, as fyi, the load amount is for $487,500 (I'm not entirely sure if that would fall under a large transaction category).Yup  I would say there is a good chance that you front the 7500 and don't get the loan.. 

I am letting it go for just the payoff amount of $400,000 if anyone is interested. 

I have a list of PMLs and their lending criteria (1. amount they'll lend, 2.

You need to post it and notify all tenants of the updated policy and the amount of the fines.

I have been reading the online resources about getting started, searching the market, and even doing tours, but I am hesitant to jump in and buy a house as I have quite a large amount of student debt.