When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

We would all love to have that note that has 5 years of perfect payments, 800+ credit score and a 20-25% down payment. 

The best advice I can give you for studying for you license is to voice record yourself reading questions and answers on notes cards.

Ivan, I'm in Tampa too and I'm a lender with formal commercial credit background from two of the largest lenders in the world and 34 years of lending experience.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

For example, if I do S/P top stocks, I could get around 11%. but if I did real estate and I have a 800 credit score - could I do real estate and make it work harder doing turn key Multifamily. 

Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

It is debt you are obligating yourself to and lenders and the federal government think of it that way.Missing a payment doesn't mess up your credit, but it does mess up your day when you get sued or prosecuted. 

You can decline them off their credit, background and for not having 2 past positive references.