The exception is that hard money lenders may not care as much about your FICO score as they do about the validity of the deal you have identified or the opportunity to generate a return on their money.

You will sign an affidavit attesting to this, so failure to do so could be considered mortgage fraud.If you have a valid reason for needing to move (unexpected job transfer, death in the family, etc), it's generally assumed moving would be allowed without repercussions. 

@L Belle There are more valid reasons for a bad credit score (eg. nasty divorce) than an eviction.

I would validate these with the local town or have the seller provide you with payment stubs/copies of bills.Your vacancy should probably be equal to one month rent ($2250) to start.

There are valid reasons for raising the rents, and it does suit your business model.. 

Some might recommend using a Warranty Deed assuming if a defect arises after the conveyance the Grantee could sue the Grantor for a breach and the Grantor's title company will step in and take care of the defect. 

@Jeremy Lee yea they will be a bit of a pain and having the tenant pay the copay for the home warranty is absolute bull@#$t.

Does anyone know if private lenders provide valid preapproval letters?

By your own admission, You have canceled the contract, there is no longer a valid purchase agreement so filing any memorandum/cloud on your part would be a Fraudulent filing.  

View report*This link comes directly from our calculators, based on information input by the member who postedProperty is a new build with one yr warranty on construction.