That's why, Kirsten, should you decide you want to do this, it is critical to find the right attorney so they can make sure to instruct you properly, so that all the loans you do are not subject to Safe Act and Dodd Frank, are business purpose loans, and don't run afowl of any state nuances.For example, in NH, if you own a gas station free and clear, (clearly a commercial property) and take out a loan against the property and use the proceeds to pay your kid's tuition, it is a household purpose loan, and is therefore residential.

Granted that isn't very much money, but it is more than the average US household makes.  

I guess you would have to see if the dirt or the house holds more value and who the optimal end buyer is.That will determine what someone will pay for a property.I have seen instances in CALI where they tear down the house and just want the land to build new. 

Taking any advice, input, and/or suggestions.My parents currently own a 6 bedroom house hold in the city of Ventura, CA.

You're safer bet is to go with household total income as a 3x of the rent, which can include income producing people on the lease but not add additional provisions for non-income producing occupants. 

You may also want to start prescreening before you show them the property, just ask them a few questions like how many total occupants will live in the home, is your credit score above or below whatever your threshold is, what is your total household verifiable income, and what pets do you have.

Currently I have no car note, although that may change in a couple of weeks, and no other major liabilities other than household/living expenses.

We have kids living in this household and we can't continue waiting on you guys to fix this.

As part of the Audubon Society's annual Christmas Bird Count, Palacios regularly reports more bird species than anywhere else in the United States.Apparently i can pull census data for the town and get rental vacancy rate to help average http://factfinder.census.gov/ HOUSING OCCUPANCY # % Total housing units 1,976 100 Occupied housing units 1,661 84.1 Vacant housing units 315 15.9 For seasonal, recreational, or occasional use 64 3.2 Homeowner vacancy rate (percent) 2.5 (X) Rental vacancy rate (percent) 6.6 (X) HOUSING TENURE Occupied housing units 1,661 100 Owner-occupied housing units 1,149 69.2 Renter-occupied housing units 512 30.8 Average household size of owner-occupied unit 3.1 (X) Average household size of renter-occupied unit 3.04 (X)You have given me some good things to think about, but i can't identify how they factor into the situation.

It lets me select Own vs Rent, household income and family status, among other innocuous and generally useless criteria, but none of the juicy details that these American podcast guests and blog writers are talking about - foreclosure, probate, tax arrears, etc.Has anybody in Ontario found a source of more discriminating mailing lists?