For long time landlords with long term tenants, there's a tendency not to increase rents consistently, especially in areas where the rents had risen sharply.

Kathryn -  obtaining a loan through a lender  will normally require  2 years of  history of  consistent  positive income …...so if the plan is to use this  method of  financing  - keeping  the job is beneficial …..if you plan to use the more creative methods of  financing deals - then this issue isn't quite as important  the other lender issue to be aware of is that many lenders  have a limit on the  #s of properties  with financing an applicant  has in their name …...some cap at  7  ...some cap at  10 ...some may not any cap

So how do you factor that "refund" in when looking at a potential deal or looking back say at the past year to see how well the property you own performed? 

You also have to do it consistently, can't just put out one bandit sign and expect to close 10 deals in the next month... 

Not sure if I know a caselaw directly on point but conceptually I could see @Jared Forman still having an enforceable contract and being allowed to bring an action for specific performance if it comes to it.

They consistently go for approvals and changes all the time for clients and can likely give a real world knowledge of what will happen.I am in GA not CA but I can tell you pretty much anything the government says verbally is WORTHLESS.

@Skye AndersonSkye, I reccomend buying on performance, not on speculation.

Basically the house was built as part of a "tract", which consists of many lots.

If you think it's a viable option, contact them ASAP.You're kind of stuck with a sub-performing loan until you can figure out a way to fix the problem or become willing to sell at a discount to another investor.

They should be consistent.