Drain fields and flooding can be a difficult thing to deal with, so I'd double check during those peak rainfall periods. 

Keeping in mind that every lender is different - they have different appetites and risk tolerances (pricing typically is relative).Lenders want to see:A good deal - something you can make money on - that should be important to both partiesSome liquid assets - Money in the bank, the ability to handle a deal if there are cost over runs or a long holding period. 

The problem arises in the fact that most wholesalers (a) do not actually have the cash to close, and (b) have no desire to actually close, and (c) will kill the deal if they can't get a cash buyer before their contract expires, which will have left the seller hanging for the period of time that they had the property under contract. 

So you live and learn when I have a Russian buyer I up my NON refundable EM by double and make it released to me after contingency period if they are not willing to go for that I wont sell it to them.. 

He needs to keep making 100% on-time payments, period.For good credit scenarios wherein the person has no mortgage lates and did a short sale, Freddie Mac is now often approving these purchase mortgages with no specified minimum waiting period. 

I know they typically lend for a 6 month period, so I plan to pay for all the drawings and permits myself since those can take a lot of time.

Queens sales are up 6% in the same period, and Brooklyn sales are down 4% in the same period.

Can you go more into the specifics of how you were able to achieve such astounding growth in such a short period of time?  

I'm getting a little worried about meeting the 45 day identification period.

In this case you always have money left in the deal.3)You never pay PMI (private mortgage insurance) if you refinance at 80% of appraisal or less.4)In Texas (and perhaps other states) if you refinance within a short period there is a discount (40% I believe in Texas) on the title insurance for the refinance.This actually saves more than the cost of the additional lender’s title ($100 in TX) when purchased.In my case I didn’t even purchase lender’s title when I bought the house with the friendly loan and still got the discount when I refinanced.My friendly loans are with my own money, lent to a friend with a personal loan, who relends to me with a mortgage loan.Our terms are mirror image for the personal loan and the mortgage loan.Ideally the loan includes all costs, including future repair as I want to be able to get all money back when I refinance.The ultimate refinance means you have no more than 80% or less of market value total into the property so when you refinance you have no private mortgage insurance to pay.That also matches with conventional loan standards of 80% LTV for investor purchases.There is no industry norm requiring you to wait any period of time for a “rate and term” refinance so you refinance as soon as the rehab is complete.There is no law about getting a “cash out” loan immediately.That is simply the current lending standard for most lenders.A “cash out” loan is one where you paid cash for the deal and now want to refinance to pull your cash out of the deal, hence the name “cash out loan”.Unfortunately industry norms currently require you to wait for 6 months before they will give you the cash out loan which is the reason I use my “friendly loan”.In Texas, once a cash out loan, every refinance by the same owner is also a cash out loan.In Texas, cash out loans are more restrictive than refinance loans and cash out loans do not qualify under some government sponsored finance programs available to rate/term refinance loans – another reason I prefer rate/term refinancing.I recycle legal docs (promissory note, deed, and deed of trust/mortgage) that I got from an attorney that I alter for each purchase.