I'm not sure what the OP is asking, a guy does L/Os, is this your property, you buying with the L/O.

The key when talking to the LO is, "have you verified their credit, income and assets" then give the borrowers 7 days for loan approval - the appraisal, so you'll only have the property be tied up for 7 days and keep the MLS listing in "Back Up" vs "Pending"

I think she is looking at freeing up equity, so a S-2 or L/O won't help on cash-out for an existing investment property.Personally, I'd be leery of investing (as a private lender) even at 50% LTV with a person who had a foreclosure.

Realtors and LO's were pointing this out to homebuyers as well I'm sure.Again, this is my opinion and maybe I'll be proven wrong.

In that situation Andrew would just be able to evict the tennants and not have to forclose (if he used both a LO and rental contract).

I've been reading lots of LO posts and have seen people saying that they farm from MLS-listed properties.  

What I do with my LO's is insert a clause where I'll accept responsibility for the first $250 in repairs, but according to North Carolina law the owner is still responsible for maintaining a habitable residence. 

However the duplex I want is two parcels so now the LO says I need two different loans, FHA for the owner occupied side and Conventional for the tenant occupied side.

So with a LO you don't actually own the property you just have some contractual control over purchasing it at some point in the future.A Sub2 you actually close on the property and take title in your name, meaning you are the owner of that property.

Now when I do cross qualifies for my realtors the LO might be using a bank that has a program that I'm not familiar with or that I don't offer.