I strolled pass a home in disrepair and thought it might be for sale.

So paying 1.2 for 2-3 times the space, not having to pass a co-op board, and getting some rental income, sounds pretty good to most folks here.

Let's see if we can pass a new law that will REALLY muck things up!

Hey guys,I found a single family home (SFH) in Suffolk, VA that is trying to pass as a duplex.

This would be Houston,TxThanksAs HMLs we would look for you personally to preferably have a Mid FICO of 600+, pass a background check to make sure you are not on the run from police or selling crack on the weekends, be a US citizen or resident and the more experienced you are in flipping/rehabbing the better the loan terms might be.The rest is dependent on the property in question.

@Grayson GistThere are a couple of reasons:Occupancy fraud is the number one type of fraud in the mortgage industryMost people buy a 4 unit and then move up to a single family; they don't continue to buy 4 unit propertiesFHA expressly says in its guidelines that "FHA will not insure a mortgage if it is determined that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining investment properties, even if the property to be insured will be the only one owned using FHA mortgage insurance." https://www.hud.gov/sites/documents/4155-1_4_SECB.PDF ... so if you're trying to use FHA, you could be running into that guidelineOver 2 units, FHA requires the property to pass a self sufficiency test as well, meaning 75% of the market rents must cover the mortgage amount and they also have to apply a market vacancy rate to the mix.Lots of reasons to just live where you're living now and get a portfolio loan that has none of the above guidelines.Stephanie

Roofs will be more expensive to pass a wind mitigation inspection.

.- Be able to pass a regular background check to make sure you are not on the run from Police or running a crack operation in your spare time.- If you are fixing then you will need a scope of work.That's it!.

She said it'd be very tough to find tenants that want $700/month rent and that can also pass a credit check.

This too will soon pass as the saying goes.