@Ryan EllisAn assigned Lo agreement Mortg brokers don't likeI enter into a Lo agreement with seller w letter of intent to assign and get a fee from tenant buyer, then record the option, then charge an option release fee to buyer, keeping the same terms, option release fee is NOT part of original option, buyer needs to qualify w their own saved down paymentInterview a few mortgage brokers about FHA Mortg qualification 

You might need to consult with an Attorney or CPA to determine your type of company to keep you personally protected, a pre qualification letter from your choice lender, and your primary Team members.  

It is the Land Bank's mission to clean this up.In order to accomplish these goals, the Lank Bank has restrictions and qualifications on who buys their homes.  

Lending seems to be loosening up and a pre-qualification letter can help you.The primary Team members are Attornies, real estate Agents, CPA's (or accountants), Inspectors, General Contractors, and Handymen.  

Please reach out and share your qualifications. 

It's also important to realize that HUD will do a very thorough underwriting of your qualifications to assume that debt.

Get a pre-qualification letter so that can help you with some seller's.Find\Get Team members you can trust to help you and keep you from trying to do everything yourself.  

It might help you to have a pre-qualification letter from a lender and tell them that they to put loaning time and a maximum amount.Regardless of what I had I felt more comfortable with the construction business.  

Form some type of corporation or an LLC with whatever an Attorney and/or a CPA to help you decide will do the best for your goals.Something else you should do is to get a pre-qualification letter that says how long you might need to do a loan and the maximum amount of loan.  

Get a loan pre-qualification letter.