:oops: Pertaining to Wholesaling houses: Does the state of Texas allow Assignment of Contract to flip a house.

You need to back up.No bank owns a pre-foreclosure, the owner is the borrower in default.You don't need 50% equity to get a decent deal.Look more for motivated sellers.Also, be aware of federal laws pertaining to "helping people" who have received notices of foreclosure.

I would suggest reading all of the legal documents pertaining to the land and subdivision, including, but not limited to, Homeowners Association By-Laws, Covenants and Restrictions, Deed to look for Deed restrictions, etc.

@Leland Smith - this mostly pertains to my experience with furnished finder, but my guess is that you are priced too high for MTR, and perhaps your property is not right for it in general.

There are a number of them that pertain to wholesaling (assigning contracts).

@Zack Karp  I guess you're speaking of lender's requirements as "overlays" in addition to Fannie and Freddie.Some of what you mention will pertain to the type of lender as to "prudent lending practices" banks will be different than mortgage companies, credit unions may be different and so may your  insurance company as some originate home loans. 

Again, I would not go for it, but those are some of my thoughts pertaining to this.

Could have posted in the commercial section, but i just can't find anything pertaining to my end of the business.

"In addition to establishing HUD's responsibilities under the SAFE Act, through this rule, HUD proposes to clarify or interpret certain statutory provisions that pertain to the scope of the SAFE Act licensing requirements, and other requirements that pertain to the implementation, oversight, and enforcement responsibilities of the States.

Take your strategy to your title company before you contract to assist in the best course of action as that pertains to what docs you can dig up.