Are your friends financially capable of handling 1/2 of the (initial) expenses and any (unplanned for) shortfalls?

You may want to initially consult with subject-familiar licensed Geologists to draw opinions.

I've made my money initially through cash flow made from landlording.

The program is called Teacher Next Door:Teacher Next DoorThe Teacher Next Door is an exciting new HUD initiative that will offer thousands of teachers highly discounted homeownership opportunities while also strengthening the communities where they work.

Building a relationship with a realtor(s) can enable you to obtain MLS (Multiple Listing Service) information, property and tax data,johnmichael: comparables and a whole host of other information.johnmichael: You should have a reasonable idea of what to initially look for before hitting the market.

Yes you can tell him that he can sell that note on the open market, yes he may naively take your assurance and not verify that.

I'd just tell them again about the "extras" that my place had.BTW, I had a MINIMUM OF TWO YEAR INITIAL LEASE.

This is always an unknown until your mortgage loan officer has all of your income documentation, although, if he/she was using any rental income to qualify you, they should've known that they would need the 1040's to verify income.

And every day you delay the initial warnings/notices is another day IF you end up having to evict, that you lose rent income.

My initial investments when i was 16 were sold off when i was 20, this is of course short term/risky investment strategy, but those profits helped me get by when I first bought my house. we rented it out within 3 months of buying. money was tight at first.... until that rental income started flowing... so the sell of those stocks helped cusion the blow a little, and then helped upgrade a lot of the house after renter moved out (and we moved back in).basicaly traded a $1500 investment when i was 16 for about $40-50k in equity now at 22.