Hi @Jack Forester .I'm wracking my brain trying to figure this out.

We finally got it all straightened only to have the Seller back out this morning b/c her Grandson lost his job and is now moving in with her (another Grandson is already living with her) so she can't sell right now, until they move out.I was wracking my brain this morning trying to come up with another way for her to pull some equity out of the park and still have an income comparable to what she is making now by running the park herself.

Best way to do this is for an attorney or title agent to run a title report and have their examiner present the proper description for you to copy onto the QCD.

As a result, you will most likely spend hours viewing over-priced properties that 'match' your criteria, only to discover that they fall short, that the calculations are off or that they fail to verify certain documents (such as income/expenses, vacancy history and examine current leasing agreements).  

I don't have a 1003 in front of me, so if the block says secondary market loans, I might be mistaken, but the intent of the other assets and liabilities section is clear to me, I think it is after 20+ years of filling them out and examining banks for compliance issues as an examiner, I don't know, I might be off base, but I think I'm safe in the overall assessment and what was inferred.

chat now with Viper and finance examiner on chat board

Hello all, I just passed the RE salesperson exam in Michigan and now I am looking for a Brokerage to hang my licence.

Something you ought to consider is the lack of an interior examination of the property with an AVM.  

Assumption is to keep this as a commuter condo rental investment property after we move out and start having kids.Now, if I were just examining this as an investment property - I would probably have passed on this (aside from just being a condo), but noting that we're moving in anyway in <1 year, having someone else just pay the mortgage for the first year while we gained equity would have sufficed.

The nerve this hedge fund manager had to say that to him.