I'm in the process of revising how we document changes in household make-up and clarifying our policies and procedures about that.

If you have other lines with them, you risk them being frozen or the ability to use them, being taken away.Joel summed it up pretty well assuming you are not in a single action or non deficiency state.You have to document a financial hardship to be considered for a short sale for 99.99% of all potential short sale scenarios out there.

Many of our clients that want to flip some and hold and 1031 some will often set up separate holding entities or make sure that their CPA is on board documenting them appropriately.The 1031 exchange is a huge powerful economic engine but it takes a little patience to use.

In Tennesse (as I'm learning with a new personal property purchase) closing and documentation can be done by a title company w/o an attorney.

The county planning documents are a great read in terms of finding areas with planned improvements.  

For submitting an offer I can understand why they would like to see a POF.  

No matter what representations others provide, ask for original documents, tax return schedules, inspect yourself.  

Submitted my post under wrong category... 

In this document they will pull comparable sales and those will be the base for the number you are getting. 

I am looking at a property that will require a structural engineer inspection to be submitted to the town before occupancy will be issued.