I am familiar with Georgia’s Own Credit Union and I was definitely wondering if they are considered by other investors to be a good lender to choose.

I definitely like the idea of room mates helping to pay the mortgage (or even covering all the mortgage), so I will keep awareness and learn more about it, so I can follow that approach then the situation allows.Sincerely,Joe

I will definitely reach out to my insurance broker and discuss next steps.

Hey @Engelo Rumora, It definitely is a very unfortunate situation for many and hopefully you can spring back from this, but the likelihood of you getting your money back is extremely slim, if at all.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

While you can’t completely control who applies to live in your properties, you most definitely can find areas that are popular with students, young professionals, families, etc. 4) just as important as finding the property, you need to have an exit strategy in mind for the property.

Definitely going to give that a try! 

I am beyond the two years required.What I am trying to do is find a way to buy a multifamily using FHA 3 1/2% down payment as opposed to 20% or 25% as an investment property.I have a situation where it would be beneficial for me to try and help my mom and my sister move into a place  because I can afford to purchase it… The grey area is whether or not they are considered family members per FHA guidelines to qualify for the 3 1/2% down payment. on the FHA website… It says family members are considered parents, sisters, brothers, etc.I am definitely not trying to do anything illegal, I just thought maybe if I sell my primary residence… I could buy the multiunit per FHA guidelines as long as my mom and my sister are considered family.I have been told that the 12 month or 24 month living requirement only requires one family member to live in the home… So if my mom and my sister are considered family members… Does that meet the requirement? 

So it’s definitely there…

If true, definitely doesn't lower the price tag on a good professional agent, and even if it did, they would make up for it in the ability to generate new upfront fees.