Make sure the condo is FHA-approved, allows rentals, and has no financial issues before committing.

@Izraul HidashiIn general:Investor or certificate holder -> underwriter (creates the certificate) -> Depositor (issuing entity) -> Seller (purchases note) -> Originator (or creditor that created the note) -> borrower

If you made those free they'd be complaining about jobs or supermarket deserts or lack of public transportation or some other issue.

You have to watch out for properties that hit 1% or higher, but have cap ex and tenant issues.

I do not believe it's a pricing issue because I have priced it lower than in previous years.

and I was just one little mortgage guy with 450 loans out.. can you imagine the banks with hundreds of thousands of loans and servicing companies.. so having mass equity or paid for keeps this from ever being an issue. then when I sold these off.. most for cash but a lot I did a 30 to 60 month ZERO interest deal on.... and boy you should have heard the cash flow cool laid drinkers..

Also, if this is a regional flood, Fire, Tornado or Hurricane issue; replacement costs will be even higher.F. 

Both lost their homes because of the shuricanes and went into having credit issues because of this.

You may be able to lean on the title company if they missed something, but generally if the deal closed and its not an issue of material disclosure or title or something its generally your issue now, the owner doesn't really have an obligation to comply if they closed according to the CD you signed.  

If you have a self directed IRA there are no tax consequences (but potentially various other issues), otherwise you will be subject to tax at the highest dollar rate as well as penalties if you are under 59.5