So he is wondering why even have a contract written because worse cause she stops paying and he hasn' lost anything.

"Real Estate Commission Rebate Program"Pre-arranged and in place for pre-approved borrower/buyer clientsGood Faith Bid for a Purchase Price of: $500,000Listing Pays: 3%= $15,000 / Rebate to Buyer: $12,000Rebate to be credited at closing as follows: Closing Cost                         $ 8,000Home Warranty                  $ 500Attorney Representation  $ 700 New Flooring$New Window Treatments$New Windows$New A/C System $New Appliances                   $2,800Hurricane Generator$ Other: $_______________________________                                    $ 12,000 Rebate TO BUYER

This means while you can certainly borrow money from the family you probably won't be able to use the property as collateral. 

So I have been asking friends if they would co-sign on this loan (to purely borrow them for their W-2 income credentials) and in return for helping me qualify, I would pay them $1000/month while I own the property.

@Luis EscobarA lot of lenders that sell their loans to Fannie/Freddie will only give an individual borrower four mortgage loans. 

In my inexperienced line of thought, it would seem if I’m borrowing $60k total, the points would be applied to that $60k rather than the $18k acquisition amount - I don’t know why the ratio of acquisition amount to total loan amount would matter to the lender. 

Works great for construction projects.LOCs are nice because they don't have a lot of closing costs and you don't have to borrow the money. 

MY TWO PART QUESTION TO BP MEMBERS, WHICH HOUSE DO I BORROW FROM,I NEED TO PULL OUT $80K-85K TO BUY 3RD HOUSE. 1. 

They told me labor cost is more in mid-west than in CA - at which point I couldn't stop myself from pulling my hairs.

Your ability to avoid sinking too much of your capital into Dead Equity by obtaining mortgage loans...without a job, will be key.Now, if you're one of those who are listening to 1994 Carlton Sheets cassettes, with no money in the bank, bad credit, living with mom and dad, but just a desire to purchase, then stop wasting your time and concentrate on finding a job.