If the furnace breaks in the middle of the night and the pipes freeze, the damage will be minimal.Check to see if your bill is actual or estimated.

No current yearly leases in effect with 2 tenants.ASKING PRICE: $290KRENT 1/1: $750RENT STUDIO: $650RENT 2/1 (we will be occupying for now) $1300Willing to pay $280K.

I sent a welcome letter to both and let them know about the change of ownership and that the lease they signed with the previous owner was still under effect.

If there's more cost effective options I'd love it if you could point me in the right direction.

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

They could decide that these "disguised credit transactions" were originated in an attempt to evade regulation in which case some court is going to give the borrower the home and all the money they paid toward it (perhaps including lot rents paid) in damages. 2.

Ahh I think I got what you're trying to say it is different how rental income is calculated when the subject property is owner occupied or non owner occupied, explanation below.To clarify:For rental income on a Non owner occupied property (which I believe this is)right 800 income - 800 liability is $0 to make the borrower qualify for and you divided it by 0 because he has no other income so the ratios are 0/0 if gross rent was 1066.67.The 800 Income after being discounted by 25% is netted against the 800 PITIA = 0 effect plus or minus to the borrowers scenario.For rental income on a primary residence:What your implying is how rental income is calculated if the subject property is a primary residence then yes it would go as you had mentioned because the guidelines do not allow the borrower to net the income against the monthly obligation so income would go in the income category and PITIA would go into the expense category similar to what you mentioned 800 / 800 = 100 DTI (debt to income ratio).

Buying is definitely more cost effective, but building will allow you to get exactly what you want.

If a broker/ agent isn't analyzing their time for maximum potential then they are failing running an effective business.

Additionally, you have a signed lease already in effect, security deposit, and first months rent.