Than refinance the primary mortgage to a traditional 30 year mortgage.

You might want to start reading up on private money and hard money loans, which are both great alternatives to a traditional mortgage.

You can google "indiana real estate purchase agreement" you'll find pages that come up with some, below is one off of a local realtors association website.http://www.sira.org/PDF-Forms/SIRA%20Sales%20Forms%202009/Purchase%20Agreement_08042011.pdfIf you are going after REOs then you would submit your purchase agreement to the realtor that is listing the property and they will forward it to the bank just like with a traditional MLS seller.

You are forgetting general maintenance expenses, vacancy, prop management, and big ticket items (roof, hvac, etc).

In your itemized post above, you mentioned in #4 that you had 48 hrs after HUD accepts your bid to accept.

Most CFP's rely on traditional tools like stocks and bonds, and are both uneasy, and unqualified to provide meaningful real estate advice.

IOW, which items affect the appraisal the most?

This is important because I'm currently utilizing traditional financing, and am therefore hindered by the time it takes to save for each 25% down payment.2) I have a realtor there whom I know and trust on a personal level.

Also if they tried the traditional agent route, and it didn't sell, it's priced too high.

http://www.factoring-invoices.com/fix-and-flip-program/Unfortunately, I don't qualify for a traditional mortgage since I don't have 2 years work history and am not currently earning a salary.Thanks!