Like to get a pre approval and secure the deal.

Owner wants out ASAP, he has another investment lined up and wants to roll the profits over to another property...

I have talked with a lender and have been pre-approved, but since my job that I have accepted is contingent upon me graduating, my lender said that I cannot close until after graduation(I could go under contract before Grad and close after, but I am looking to still close sooner).  

Would they view this property as pre-existing non-conforming?

thanks,It’s rolled into the closing costs.

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

@Bleau Deckerd the 1% rule is not very important because it is a tool to pre-screen deals.

We have the money to pre-pay for a year, but I was reading on here that offering that could come across as shady and that larger management companies won't be drawn to that.

I’m working on acquiring 5 units of townhouses pre-construction.

I have been building new homes for investors over the last four years. I find this a much smoother experience than building retail. The only problem is that I currently have too many buyers (yes I know that’s a good...