I think we’re all interpreting that people are getting “stupider” and make less responsible choices, and the country is moving toward a slave to the rich scenario until there’s mass gang destruction to properties..

Im sure this has gone back and forth as either or depending on how the guidelines are interpreted.3) 75% of gross income - PITIA if they dont show on the tax returns or we use tax returns if the most recent year of tax returns have been filed with the property on there.

I interpret this to include payment of referral fees to anyone other than another realtor.Anyone have feedback on this?

The issue is that, because Dodd-Frank is so vague on the specifics of some of the regulations - having left the interpretation and implementation to the states - it is difficult for individual homeowners to ensure they are complying with all the state specific regulations and disclosure requirements, which is why most people recommending the use of an RMLO.Dodd-Frank has been a complete cluster, since it's initial implementation. 

@Ryan Pettit if I interpret what you have shared correctly, there is only one vacant space? 

The interpretation can be that you only refinanced to get at the profit ahead of a sale and 1031. 

This is still iffy, depending on how you interpret the definition of a security but it's at least moving in the right direction.

There are many interpretations on this matter, but not a clear guidance. 

@Thomas Gerhart Each financial institution has their own interpretation of the 90 day flip rule as some banks count it closing to closing others closing to under contract. 

I know people always like to interpret these laws in a way favorable to allowing them to transact the business they want to transact without complying.