Let us know how it goes.I provide my screening criteria on my website, and I encourage applicants to screen themselves before applying so they don't waste my time, their time, or their money.

Many just ignore the zoning rule though.

Sorry, English isn't my original language.On 11/6/23, I applied to Lendbase for a commercial loan for my business.

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

However, he asked me to sign a one-year Exclusive Right to Represent agreement, as presented to him by his brokerage.His interpretation is that it applies only when he materially assists me, but I think the boilerplate brokerage language he was given reads much more broadly:"If during the term of this Agreement Buyer enters into a contract for the purchase of Property through the services or efforts of the Broker or Buyer’s Brokerage Firm, or by or through any other persons during the term of this Agreement" (emphasis mine).My concern is that, under my interpretation, if a fellow real estate investor wants to unload a property or if I get pointed to an opportunity by a former agent, colleague, or friend, this agreement could create an obstacle to moving forward with the deal.In the end, I didn’t sign.

Just how important is this “rule”.  

HOWEVER, you can still find deals that hit the 1% rule and positive cash flow.

I plan to apply for an FHA loan for my first investment if I were to find a deal, but if I can't something that works for buy and hold.

The standard rule is $250k per person who legally owns/occupies for the 2/5 year requirement. 

Even if one tenant is responsible for rent payments, the others will live there and impact your liability as a landlord.Accountability:Requiring all adults to apply and sign the lease holds everyone legally responsible for the terms.