Also, desirable amenities (pools, fitness centers, clubhouses) enhance the functionality of a community.

DSCR does not require disclosures as they are not sold to fannie and freddie mac but many lenders include them as a courtesy.

Hey All, If you have been thinking of buying/or selling a condo there are a few new mandates that are going to be required from each association in regards to the Milestone Inspection and Structural Integrity Reserve Studies.

I have come across multiple properties - typically houses that require rehab - where the seller is not the owner of the property but what I believe to be a wholesaler or investor who has been assigned the rights of the property to sell to an end buyer (me) for a (substantial) fee.

We can pay the contract early and get access to title earlier if we want- Property is in a very desirable area of town and I'm not worried about it getting rented. - My wife and I have very good jobs and I have no doubt we will always pay our dues to the seller, even if the property doesn't rent for 3 years- The seller (an LLC) has done multiple Contract for Deeds and has their process down.

Tracy, can you explain the requirement for proof of landlord liability policy? 

We updated the house to match its low price range, which required careful budgeting and strategic renovations.

Most of the lenders I’ve had contact with have the 25% DP requirement, high rates, and high closing costs 

This area used to not be desirable at all.

The HVAC system needed full replacement, and landscaping costs increased due to an extra lot that required clearing.