Currently it is not cash flowing, and after mortgage/taxes/insurance/maintenance, it is probably losing ~$1,300 per month (eww).

Landlords are required to disclose that the property is located in flood prone area and/or the property is known to have been damaged at least once during the 5-year period before the lease.

For owner occupied properties federal law requires lenders to verify the ability to repay by the borrower.

Notice is required along with the description of “just cause”. 

FundingYou will also be required to bring your down payment at closing.

Fair Housing requires us to treat all applicants the same with regards to screening.Does your existing lease specifically allow or exclude the potential for a mid-lease modification like this?

Let me know if I can help you in your real estate journey. hello Brian and good afternoon, at this moment I am currently working on the best way I can do my double closing and double checking if it is safe to do wholesaling in Oklahoma since some require license.

Expect to find less desirable properties, deferred maintenance, low curb appeal, maybe even damage that needs to be repaired.

I do feel bad they are losing their home, and want to be sensitive to their situation, (and would like them to not trash the place.) what are the requirements for the cash, do they just have to get the big stuff?

Generally a HELOC is second position and might have seasoning requirements (ownership of 3-6+ mos) you would need sufficient equity to essentially 'recapture' your down payment.