The other good news is that there is more than one way to skin a cat.

I would hope the court would see that if it ever came up.I have had a lawyer involved the entire time so he would be the one to draft up any paperwork that gets done.Thanks for the ideas, keep em coming if there is another way to skin this.

Here's the part of her plan that irritates me: She's selecting the tenant/buyer for you with the intent that they will not exercise their purchase option, but she wants you to split the option purchase price with her because she found you the tenant.

@Jerryll Noorden  cash out refi for someone who is brand new is going to be improbable any HML ( and I have been one for years) is not going to bite on this scenario.. you could just pocket the cash and walk. as a newbie as you self profess you will need skin in the game and probably 20% or more regarless of how good the deal is.. you may find a private lender who is not to swift just like the sellers are not to swift to leave such a huge margin on the table.. unless of course you just dealing with little old ladies who know no better or others who are not swift.I get it if the house is a hoarder house or major issues. so want to make sure the newbies following this thread don't get the idea they can do no money out of heir own pocket deals with HML becasue3 that simply is not the case.. and I would bet you will pay 4 points at least being new.. 2 points is generally for a experienced known borrower.did you close the ladie that would not get back to you and you have to drive two hours to see here?

I mostly agree with @Greg H, the exception, is that HUD does do pre list Auctions on Auction.com, and Hudson and Marshall, and possibly Homesearch, (havent been able to verify this one) but the process is totally different, you may or maynot be buying from HUD, but if no one buys at these auctions it gets added to HUD's inventory and listed on HUDhomestore. in any case, you need to prove your money, submit Ernest, and lose the ernest if you dont close, so yea, you have skin in the game.

They have skin in the game. 

Now, there's no turning back.I'm sure I'll become more active on the forums now that I've got some skin in the game, but I just wanted to share my excitement with the community. 

., no skin in the game);2. 

Essentially they would allow Thomas to come into the picture with only 10% "skin in the game", and then it is 10% of a potentially inflated (err, "appreciated") value.  

They should want to see the skin in the game, your source of funds for your side of any purchase.