Since it’s the lender’s responsibility to manage their risk, not checking credit or accepting a low credit score without large trade-offs to leverage is something a true lender wouldn’t do.Properly vetting our borrowers is not only beneficial to a lender, but it also ensures the borrower isn’t getting involved in a deal that isn’t a good fit for them.

FHA 3.5% is very difficult to get accepted contract in this highly competitive Red HOT Real Estate Market across the major metros in the country.I will suggest you get a 5% Conventional Financing.

Then we request everyone's highest and best offer by say Tuesday at 5 pm.Let me ask you this - is there any downside to waiting 3 more days to accept that clients offer?

You may have a harder time getting a seller to accept an offer from a buyer using an FHA loan because of this stipulation.

Money person can take a walk if this isn't acceptable, which shows their hand if they walk, its good news actually.- Cash flow and equity split is 50/50 as well as tax implications via K-1s from the 1065 partnership return. 

I own a three-unit in Chicago which has strict regulations about accepting security deposits therefore I've recently started doing non-refundable move-in fees as most landlords do here.

He has interviewed big companies like Evolve, but they have shown to only do about half in revenue as he does for his properties and he will not accept that.

Is it legal to accept the 2rd one who applied?

If you apply and are not approved or accepted, you get the money back. 

I will tell you this, don’t wait for the H&B due time, have her agent call listing agent and see if seller will accept someone right away if its really good.