The benefit to these are that you can:Buy with 10% down as an investor, or 5% as an owner occNot pay for the appraisal, they will use the one that they produced when the got the house backAnd, as an investor, you can exceed the traditional limits of FNMA loans by buying HomePath houses and using their loan programs up to a higher limit (20 I think)http://www.homepath.com/financing.html

There is a little bit of a learning curve when you first get your license so you want to work for an office that is producing and doing it the right way.

Off course, you'll need to be extra careful using a wood chisel as a scrapper but I've done it before and it works.Another tip is to do a wet sanding which is easier on your wrist and produces no dust. just buy a good quality sponge.

We liked the West Lake Hills area.Again, a title company can be helpful with the procedures, as can an agent.

They need to work harder to produce something useful.

Gayatri, what specific contract form (form number/name, produced by who) are you using?

So we might be able to purchase a property that produces a 10% cap rate but is actually valued by the area, property type etc at an 8% cap.

There are many ways to evaluate income producing property.

Utilizing money stored in the walls of your home via a HELOC to buy liabilities would be careless and put the homeowner at risk of becoming "upside down"Purchasing cash producing assets such as rental properties (doing it the right way of course), is a whole different ball game and I would encourage anyone to do it.

Good debt - Buy income producing property at today's low fixed rates, then let your tenants pay off your mortgages with the devalued dollars of the future....Yeah, I'm being basically doom and gloom but with some basic financial education and keeping your eyes and mind open there is still much success to be made no matter what happens to the U.S. of A and its economy.