Hi Karin,The above you mentioned used to be the case with FHA flips that were probably ear marked to be sold to Wells Fargo as one of their secondary market conditions was two appraisals if the sales price was 20% or higher than the acquisition cost when documenting the 24 month chain of title.I understand your frustration, they (Wells) just want to make sure that banks on the origination front do their proper due dilligence with valuation and documentation of the value to ensure that they will not have to buy back that paper from the correspondent lender (unless your dealing directly with Wells Fargo).Its hard unless you ask but if you find a banker who is originating loans and directly selling/servicing their government loans to Ginnie Mae(GNMA) then they may not require you to have the two appraisal and additional procedures because its not necessarily a GNMA requirement but rather banks on the front lines trying to reduce their risk and requiring these additional steps from you to protect their behinds.Generally you may find that on Flips they may need the appraiser to go out and certify that the property also passes FHA's health and safety standards as well so dont be surprised (double strapped water heater, CO detectors, etc).In the past I've had to show excel break downs of work done, invoices, bill of sale's, and others too but that was back when New American Funding sold the paper to WF (not any longer =).

I wish the moderators started to crack down on discussions about scamming government rules.

Basically, the government matched your contributions in the amount of your marginal tax rate.When you borrow from the plan, you are repaying the principal with after-tax money.  

The other thing Grant said on the podcast, and I think it's a really good start - focus on the blue states first (big government = big headaches).

Bank loans have way less rules than government secured loans.

Jonathan:Fortunately your family lives in a sane country where the government doesn't interfere incessantly in the business of loaning money to purchase properties.

And when you graduate and want to move, a house can take a while to sell.Also, when you apply for a mortgage, you get better rates as an owner occupant, and there's plenty of government incentives/grants for first time home buyers.

Do the government rebates apply to investment properties also?

At least when I contacted them most were looking to fund 65% of the purchase price and leave the 35% and rehab on my shoulders.You could go the Government way.

It may be tough to do with government-backed underwriting requirements, but closing in a week using private or HM lending is certainly possible.