Fred, I like the way you said legal opinion when you referred to having to give a prospective tenant their application fee back but the law is written very clearly (in Texas) that iF they request a copy of your requirements and you don't give it to them then if you reject them you must return their application fee.

Who are these "seasoned investors" that you're referring to?

ב"הhello.can someone refer me to a company that provides earnest money deposits for large transactions?  

@James Miller The kind of trust you are referring to is one that would not have to be recorded, correct?  

When we speak about equity build, that refers to factoring in your 120K debt shrinking as you own the home (thus there is real "cash" you are "earning" if you hold long enough).Equity build is important - aside from tax benefit and appreciation, it's why you investing in a corporate bond at 4% is less appealing than in a home that yields 4% after debt service.

and What would make it a good one for future reference?

Like I'll pay them 30% of the profit I make wholesaling a property if they refer clients to me (basically just hand my card to their clients).

See below from the reference guide for FNMA multiple financed properties.

dozens isn't enough. i called 53 or 55 banks one afternoon. two in my area do it. i have referred them to a few BP investors and they have been happy as well.btw, in the OP i said the rent will be around 1,050 (hoping). the way it's updated, we listed it for $1,075 and our phones/email has been off the hook. it's not the greatest area (C), but as long as the income requirements are satisfied, we are happy.in addition, i have a thread somewhere with #22, so this thread (#20) is old. i just brought it up to give an update and post some pics.

I would make sure the person you lend to references out because that is more important than any document.