I got a quote from a wells fargo loan officer stating the closing costs for a 203k loan was going to be 8k on a 105k loan.  

I told our Escrow Officer/LPO that I didn't want to close on Friday the 13th nor on the 15th... the Ides of March!

I have never owned any property, have lived my younger years in a tiny apartment and just recently move with my wife and son to a nice 850 sq foot apartment in the Bronx.  

@Wayne Brooks  Out our way Attorneys are last resort.. this person would be best served to simply go to the title and escrow company and sit down with the escrow officer and title officer and walk through the transaction it will be free and they will know as much if not more than any attorney who would have to charge billable hours to get up to speedIn these little SFR transactions very few folks use attorneys for title issues ... they use them for contracts and other issues. but title companies here are the ones you deal with when it comes to these pedestrian liens and encumbrances.

The house was also a 2 bed 1 bath, one of the beds had no closet, no furnace, kitchen gone, bathroom gone, 650 total sf, tiny living room, asbestos siding, shed and garage are dilapidated, vacant lot/easement next door with electrical wires and poles going through it.

Thanks Mark Thanks mate,I was going to suggest our office but I have too man secrets written on my walls so we can't meet here hahaSee you soon :)

We almost never have an issue at all with the assignment fee being applied to the down payment, unless the buyer uses a lender we've never used and the loan officer or underwriter don't understand much, and I have to explain it, then they get it. 

I host a real estate investors networking group at my office with few that have gone through it.

I make sure we clearly outline try following on the lease:- pet policy- parking policy (complete w/parking diagram)- the fact that they cannot use their security deposit for last months rent- clearly state anything to to with laundry and how that will be handled - who to contact for maintenance requests- when the rent is due and most importantly that the rent needs to be at our office to be considered received.

Every loan officer on the planet is going to tell you to "build good debt" to replace "bad debt" or a non-existent credit history.