Not sure what the policy is for fraudulent loans.. or what the definition of a fraudulent loan is for that policy!

There is some industry in Albany, namely, Miller Brewing, Proctor & Gamble, and a small Marine base.

Go find a local lender familiar with the nuances of gifts of equity AND the "principal residence guidelines apply if..." exceptions for if/when you are providing housing for a disabled/sick/retired parent (which you ARE doing it sounds like, so this isn't being sneaky or fraudulent). 

if not your offer could be viewed as fraudulent, as far as "wholesale value" you have a contract below that, so what is that value, that could be up to a court to decide, plenty of people sell paper, and some get screwed, all I'm saying is Nut Up and buy the property, add value and resell, then you are safe, if you cant buy the property, you shouldnt be offering on it.  

So in order for her to qualify now you would have to have fraudulently not claimed the income from her.3.

You are approaching fraudulent territory with that topic.

In my mind out of state is a gamble.

I had one offer that did not fly.but it will happen..its only been 25 years.. but I love land in the path of progress pay cash for it.. let it sit and germinate then cash in.I know appreciation folks say is a gamble but its a calculated one and were the big money is made.

I will bet you $1,000,000 that it will not and I DO NOT GAMBLE.

I like cashflow with a little gambling thrown in.I have NPL and performing loans that I'll show you or even sell to you.