I showed them the whole business model and spreadsheet...We ordered the Feasibility study and appraisalThen they gave me a Term Letter that states everything even construction cost analysis by their 3rd partyThats where we are atwe have a GAP of $2.7MWe came up with the strategy last night.. that at the very least we need $1.5M cash to pay a balloon payment by June 27 or it forecloses... the lord will not let that happen.So I have the green light from the Lord to talk to all the interested investors as He is opening up the doors of Favor

Homeowner believes they can threaten lawsuit based on Dodd Frank, CFPB non compliance, DTP, etc., and obtain “better” result4.

And in many cases you're able to write off almost off of the income from the DST against depreciation because of the nature of the non-recourse loans and your ability to buy additional depreciable basis.

and the goal of a house hack is not to 'cash flow' - it's to replace your rent payment with a mortgage payment and build equity.with that said - lots of investors buy off market and not on.

I like the non performing side.   

.- This unlocks cash to allow you to buy a new larger home for your growing family(congrats) with 5% down (Since it's a primary residence)- This allows you to exit the current home and cash in on the $600 cashflow differential(minus the monthly payment of the HELOC, minus maintenance and plus tax savings ).Could be a strategy that works well for you, please feel free to reach out if you want to talk shop and run the #s.Zach

What I started doing is I take the deposit and if they don't move in, it is non-refundable. 

This is certainly text book and absolutely the proper way to analyze a deal.Im not sure what he owes on the home but based on the payment and the year it was bought and the fact that its 20 min from Austin im just going to throw out 500K for conversations sake.500K compounding annually at 3% for 5 years comes out to approx $578,000, and you have the loan paydown aspect as well obviously. 

I calculated a $4800 monthly payment on a 15 year term after 10% down.

You obviously want to grow your portfolio as soon and as much as possible, but getting most of it tied up in a couple of non-CF condos could be detrimental.Honestly, I have a number of clients in Atlanta suburbs and GA, being aware of lenders that have minimum property values that they will lend to.