My goal is for it to replace my regular f/t job in a few years; so either I make excuses why I can't or I take actions to get it done.

But regular landlords who want to have nice properties, rent them out and keep them nice don't tend to do well there over time.Check out Landlord tenant laws too.

The general rule is that you can ask your borrower to sign anything but a pre-signed DIL restricts their right to due process and would generally be thrown out in court if contested.Every once in a while you see someone claim to do HML’s in every state.

It seems like a bad financial move to take on the burden of the loan hoping that the individual will all of a sudden be able to find the money that they claim not to have today.

Depending on the Asset Manager, they might let you add a name after the contract has been accepted Account Closed Yes you can just not turn in the contract, however I would not recommend doing that on a regular basis if you are planning on doing a lot of business with HUD as I believe(No proof) that I do receive bids on some of their older inventory because I do have a track record of closing on these as a Broker/Investor @Wayne Brooks I agree with Wayne that as a Broker I do not waste much time with blind offers as most of them are just fishing and a waste of time.

Even further, if I throw a third asset in, you claim still breaks down:Asset 3UPB: $200BPO: $50Price: $50 (25% UPB/ 100% BPO)None of those scenarios are uncommon.

The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service...."

Does he have a reference to some law to back up that claim?

Typically from what I have been reading there is a lot of uncertainty from the people that have used the site to bid on properties.With that being said there are a number of people that claim it is legitimate and the major problems stem from lack of due-diligent on the part of the bidder.

Our company does although I am not sure about the regular nature of the inspections.