To acquire the property, the buyer will need only $702,000 in equity plus amounts sufficient to fund the seller' s replacement reserve, insurance and real estate tax escrows (such escrows are held by the lender for the borrower' s benefit).Would that mean you only need to come up with the $702,000 to purchase? 

Be completely honest with them and if they don't want to work with you, it is better to walk away and lose the deal than to give up your integrity.Besides, they probably don't care, they just want to get their house sold, and if you're giving them what they're asking, you shouldn't be ashamed, you are doing everyone a service and collecting a fee.

, do you have reserves for maintenance?

Your past in the military service should help you to do this.  

@Logan LarochelleIt is pretty standard to pay for such a matter out of pocket and then settle with your insurer - this is why you have an operational reserve in the bank.  

It could be a "date placed in service issue" as to non-depreciated expenses. 

While many states recognize the old CFD or Bond for Deed, they have issues at the federal level, financing requirements, servicing problems and with title insurance.

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I spoke with a mortgage officer who told me I'd need about $30k in total to cover all closing costs and have 3 months of reserves to get a 3-family.

Carrington title services.