However, I heard that lenders require proof of funds...so not sure if a loan for closing costs would be acceptable?

So to accept a cap rate of 7% I need to obtain capital at 4% or lower.I know this isn't precise but I hope it provides some help.Good Luck.Bill

You do not have to actually become a real estate salesman to take the course. you may want to actually take the State test and have the license held at the State in case you decide to follow that career path.

I got my offer accepted today.

Like the hobbies I passed the Jameson Scotch test in Ireland.

I'm lost, "cash for deed" "DIL" "judgment" then "foreclosure" "title holder" "borrower" these are all mixed up.If there is no issue with the HOA, no need to discuss it.You need to own the note really before you can say you would accept a DIL, but really, your attorney needs to do that as the option can be given but the request for a deed to be accepted by a lender or note holder needs to originate from the borrower.The borrower is the owner and the title holder, title is encumbered by the mortgage.If you foreclose the owner borrower will still have an interest in any equity, you are only entitled to what is owed under the note agreement, nothing more.You will have to sell the property if you obtain it through a foreclosure, those rights you have are to the property as collateral, you can't start renting it as if you bought the property.

From a gray area standpoint, it's as bad as going 5 over the speed limit, or as bad as accepting that burned DVD copy from your buddy.

Technically huds counter is not a binding counter, it just states what they will accept.

Hi Jessica,I think you are talking about multifamily as you have posted on that before looking at large apartment buildings.The sellers in this situation are TESTING the market seeing what kind of offers come in.

Are you then looking for someone to help you make the Seller accept your offer?