Yes 5% down is only owner occupants as of 11/16/13.For Non owner the min is 10% down but that only applies to SFR not 2-4 units.The mortgage insurance policy through Homepath can be very expensive especially for non owner with 10% down around 3-4 points cost either in cash or about .5% more in rate (estimated or a combination thereof).

I bet your medical bills and funeral would be paid before an unsecured note.

This savings could translate into a higher return on your time since if you paid back your 49,200 and only have 20k left @12% interest lets say your month cost to hold the property is not substantially less in the absence of obscene closing costs or points.Option B:This may be an investors dream cash back 45k in your hands and a property with no skin in the game "infinite return," assuming you still cash flow with 120k of leverage on the property.A tenant would be paying your mortgage, taxes, insurance, and etc while you've retained the property, received 45k non taxable proceeds from the refinance since the asset has not been sold, and potentially making some income each month if the numbers work.120k @30 year fixed 5.625% is only about 690.79 per month and taxes and insurance I'd wager (depending on state) is probably 130 more.

From the research I did before we bought it, I think Maryland requires for non owner-occupied that if you don't have the lead free certificate, you'll have to either take the class and become certified yourself for DIY or hire lead-certified contractors for any work done (unless it's small like repainting without any sanding of large areas, for example).

As the insurance also covers my non-rental assets, do I need to split the cost of the premium for book keeping purposes?

if you have a set amount allotted for the finishes, you can give them that as a credit and require that anything over and above that be paid for by the buyers, with cash deposited into escrow and being non refundable.

That is the minimal goal, perhaps I can buy another non-principal residence before then, lets hope.

On gas, they charge roughly $60 for the hookup, since it's a gas line and they're slightly worried.The downside of electric is when their gas gets turned off for non payment, many tenants convert their stove to a furnace until they destroy it.

Non Owner Occupied / Investment PropertyThe underwriting gets 'tougher' as the numbers above get larger.

Basically, he makes me a profit.Additionally, he creates a comfort level for non-traditional real estate transactions that often occur when one is wholesaling property.With enough digging I think most people can find attorneys like this in their local areas, particularly if they are in a larger metropolitan area.