They look inside the house for first time and see how their "gamble" paid off.Does it get any hokier than that??

I noticed there are lots of ads on CL Financial Svcs like this;Motel in Idaho looking for $250,000 secured by 1st deed of trust Value of property $500k to $650k add in 6-12 months interest reserve to the $250k, if you wish motel is operating and doing well approximate gross income of $100k for 2012 Prefer asset based, private money lender Questions welcome • Location: NW •it's NOT ok to contact this poster with services or other commercial interestsMy understanding is that this type of ad is in direct violation of SEC soliciting guidelines since they are directed at anyone who happens by.

A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

I would follow my local guideline process for eviction

Whether you choose to hire a professional or have a handyman type will determine pricing on labor.The uneven flooring it's hard to say because the cause of that unevenness might be really cheap or really expensive to repair.Painting entire house would depend on the age of the house and if you are dealing with lead paint for EPA guidelines and also if the walls have cracks and need patching etc. before paint work to refinish.The bathroom as well you might plan on updating but because of age you find many aspects of it have to be replaced driving costs up.

Since he doesn't want you pull his credit, you may want to request additional deposit based on your local/state guidelines

So long as you stay within guidelines, you really cant go wrong.

If you qualify for a VA loan, the VA does allow you to consider rental income from a previous primary res that you are now planning to rent even without the two year history.It will be difficult to find a lender as many have overrides that prevent it or originators and underwriters just don't know the guidelines well enough, but it can be done.

The guideline they use is to allow for 75% of the rental income to be used to offset the mortgage payment

Landlords usually negotiate a settlement.Here in Utah, however, if the lease option is constructed correctly, the lease and the option are in two separate documents, and you follow certain guidelines in managing the tenants, my investor clients are able to do long term lease options and still evict for non-payment of rent.