I've never heard of any seller, bank or otherwise, having control of what you do with the property after closing.

Credit unions and banks with hit your with 5000 to 7000k in closing costs.  

I can't count how many failed flips/inherited properties I've bought or wholesaled that your criteria would have cut out.

Do I let the bank know of the partnership for purpose of rehab, or keep it quiet?

Our bank is going to implement a blanket loan such that our equity is collateral.  

Franks the master and gave the price a bank appraisor will arrive at.  

I only have about 2k in the bank since I have been fixing up my primary residence.

I only have about 2k in the bank since I have been fixing up my primary residence.

Of course that monthly mortgage check that I cut to the bank does make me reminisce about that paltry rent check I used to give my landlord every month...Unfortunately, there are just too many variables to say that one decision is better than another.

For my day job, I work for a bank handling real estates in trusts and estates.