Buyer has the option of choosing another title company to pay for his obligation to pay for the Lender's Policy, but then it would be a "split closing" which is terrible. 

The best one we could find is $160,000 but we will expect the worst for $150,000 which wouldn't be terrible.

@Tyler Dix - the VA is just protecting you from making a terrible decision.

@Pamela Villa we had a terrible experience with Crestcore and so have others on the forum.

That's a terrible way to get into real estate investing.

Is this a terrible idea?

We previously used Crestcore in Memphis and had a terrible experience with them.

My tenant that just moved out has been terrible!  

When did the choice become a terrible option (#1), and a good option (#2)? 

@Cody WeberIf you search the {Canadian} forums there are a couple of threads discussing just that very subject ... one not terribly long ago as I still recall contributing to it.The practice of {correctly} buying an unloved property; rehabbing that property; and re-financing has been around far longer than Brandon's catchy little acronym.While the concept is universal, the financing component is somewhat different here in Canada than in the U.S.A., so keep that in-mind when reading content here on BP.