HII posted this summary to help a beginner investor in Dallas Ft Worth yesterday...thought there might be some info you could use too...Hi as a beginner investor with the flexibility you have to move often and LIVE in a propertyyou can have the best of all investor  situations with best loan terms, owner occupied PRIORITY TO WIN HUD BIDS and get bank foreclosures, all while maintaining complete control over timing, tenant selection and growing your appreciating income producing portfolio at your own pace.

I asked another newer investor the same question, and the only thing that would be a concern is that the bank may not approve because it's not technically my money.Example:A house is listed for 60k, I put 30k into the rehab., and sell it for 130k.

Well the buyers mortgage co has informed the buyers that i do not own the property and that it is owned by the bank i bought it from.

We have my mom on our bank account so she can collect rents and deposit them for us.  

I use Bank of the West.

I call the lawyer with hopes to explain the above story and ask if he could make getting the necessary paperwork submitted top priority due to my wife and 2 year old son needing a place to go by Monday, August 22nd.

Since the bank failed to maintain the property and allowed low income families to occupy this once luxury property.

I should have been clearer, the $17k fee is the interest rate differential calculated by the bank. 

Lincolnville is way over priced now that the hipsters have discovered it and of course it was flooded during hurricane Matthew...now the city might make you bring the buildings up to code which can include lifting the houses up ....I would be very careful about any "deals" that suddenly pop up ...here is an article that explains ithttp://staugustine.com/news-local-news/2016-10-28/hurricane-repairs-st-augustine-flood-elevation-standards-could-be-concern

PMI, sure, why not, i would try to include it in their payments, just like the banks do.