They only had pre-qualifications and no pre-approvals, which I thought would be less effective when making offers.

@Eugene Reamico make sure the loans are assumable and find out what qualifications are required to assume the loans.

Or if Vacant, will use the 1007 market rent.Even if you rent it above market, lender assumes it will eventually converge.Additionally, as more investors shift towards short term rentals and medium term rentals, some appraisers will have trouble accurately determining rents in markets that cater to these tenanciesi.e.STRs in beach or ski townsMTRs near hospitals that hire a lot of travel nurses1007 Market Rents are crucial for qualification on investment property loans, esp.

Tightening of mortgage qualification conditions {to what they were prior to being loosened} has slowed down the silliness in some markets, but a solid retrenching is still overdue.

Block's guarantees are great compared with how much of a fight you would put up with from a CPA if they make a detrimental mistake.Bottom Line:Ask the qualifications of both.

With conventional loans, portfolioed loans held, they may allow an assumption, pretty rare today as it's better to originate a new one, otherwise it's an assumption with qualification, much the same process and the skin in the game may be an issue.

What are the qualifications?

Unfortunately, there isn't a "less than 5 person" rule, or a "do-nothing" rule - even for family and friends; and you can't typically just use a Limited Partnership Agreement or LLC Agreement with passive investors, without further providing disclosures, securities notice filings, and making sure your investors have the appropriate financial qualifications before accepting their funds.

What are the qualifications that must be met-income, etc.?

If the business activity ceases, then there is no longer qualification for the Solo 401(K) and the assets must be rolled to an IRA at that point anyway.If one has solid qualifications for a Solo 401(k), it is a great program.