It's bad enough that the city proper has 90 distinct neighborhoods, the rest of the county has 100 small municipalities, each with their own procedures and personnel in place.Also great to hear that you found good contractors to work with.

I read my last thread response and I think I added the distinction b/c some banks will consider the seller-carried equity in a "CLTV" calculation as a rider to their LTV underwriting.

If you have figured out a way to buy properties (and make a profit) with out needing to perform this important piece of DD, I'd pay for the information.If a house is sitting on the MLS and it gets no bites it doesn't mean it's bad and just means know one sees the potential you see.There is a very important distinction between everyone else not seeing value where it is, and you seeing value where it is not.

Study the information here on BP and make a list of questions (that we can answer for you as well) but get the local flavor from your attorney.

That's the distinction you need to make.

@John Roberts: This is very gray transaction.. if you actually break the transaction apart (i.e. the sale of the property and the issuance of a loan) and have them as truly two distinct and separate transactions unrelated to each other, then you can do it. 

Not all states have the distinction.

There is definitely a distinction between the two. 

This is an important distinction as they are covered differently in the State's Landlord-Tenant Act for Mobile Homes.

I think mostly because it's the flavor of the day get rich quick deal.