IF the renter is aware of the Protecting Tenants At Foreclosure Act, they would probably exercise the right to stay in the property for 90 days or the end of their lease, whichever is longer.I was renting a house that was foreclosed on in 2009.

The terms are as follows : Sales Price - $136,500Down Payment - $20,000Seller Financed - $116,500Term - 15 years with no prepayment penalty (won’t be exercised anyways)Rate - Fixed at 3% for the termInsurance and Taxes will be handled by me separate from the financing.I assume the buyer will hold “First Trust”?

What are the chances of your rights and entitlements outlined in an agreement of sale being fully exercised by you compared to someone representing you that's seasoned, especially when the potential buyer fails to uphold their end of the transaction? 

Then $10,000 / 25% then you can do a $40,000 deal.The above exercise narrows your search down and you will be more successful.Then assess your personal life situation.Example: Single/married kids/stay at home/still taking classes/etc.How do you either invest or reduce living expenses:A. 

@Patricia Steiner provided the link to the relevant change, which is specifically that:1) NO, you still cannot close the purchase in the name of an LLC and get a freddie/fanny mortgage2) YES, it is fully allowed to transfer the title into an LLC if you have a confirming mortgage and they guidance they provide to lenders is that they are not allowed to exercise the due on sale for this, provided the LLC is majority owned by the same person/people that were on the title when the mortgage was originated.so this is no longer a game of 'can I get away with this, since most people seem to be able to'.

And we are seeing about the same amount of short-term stuff in our portfolio: people take down a project, and then assess if it's more profitable to flip it right out and have the problem of finding the next one, or go through all the rehab work, it really is all a TVM exercise. 

If things are going smoothly, and we want to renegotiate terms with the seller, we may exercise our option and keep this in place for another 5 years.

Before you exercise your option you should get the bank's consent to the sale. 

Exercise or develop a relationship with a local bank, and if they say no find out why and move on to the next one.Best of luck!

Do this little exercise each and every time and soon you will become the successful real estate investor you want to become.You will profit greatly from real estate investing if you take action and share this with your family and friends.