@Robert Leonard I noticed the same thing you said.

Its a disclaimer paragraph added to Form 10492 which is a Notice of Federal Taxes Due that's sent out to fiduciaries.

Meaning, a Fannie/Freddie type of loan will allow you to use a 50% Debt-to-Income now....although you still might find some lenders are more restrictive...but that's what most will use.Now, if you are using a "portfolio" or "commercial" type of loan....then it won't matter what your personal DTI is, since they will use the income of the property itself to qualify you. 

They obviously noticed I noticed.

Was to upload a profile picture so that you become more noticed!

Scott, just noticed you're in Michigan as well, it's a typical bungalow here, the master is smaller sized and the closet will be basically sacrificed for the bathroom, maybe what would be left are shelves and I could provide some of those hanging racks for clothing storage

It is a Fannie Mae Homepath property (foreclosure).

I could spend 3-5k on each of the upper 4, the 2 lower units are not even close to ready, flooring cabinets ect.Owner drops other shoe: The commercial lender has decided to "Not renew smaller property loans" (As per owner)He has received a "Foreclosure notice" yesterday, He also mentioned the bank did an "Environmental exam" a few days ago.He owes $258k on the property, an educated guess tells Me it will appraise between 175k-225k depending on who wants the appraisal.I know most would run away and I may do that.

I noticed the home online a few months later and bought it $60,000 lower than listed price.

A friend of mine is buying a house next week, and when he looked at the settlement package, he noticed that he's getting a special warranty deed (SWD) instead of a general warranty deed (GWD).