Ideally, it will be best if you find someone who knows New Mexico law for specific questions but there are several experienced lenders who have offered a lot of information on the site already.

I deal with them here in PA.

Since then, I have made a point of letting every banker with which I deal, or come across, know that I will help them with their REOs.So, you can make calls.

In a straight option you would simply get an option to buy a property at a specific ideal price.

Not an ideal move, but these numbers look really good.

Finally, some of the profitable condos might not be the ones you would ideally want to live in initially either depending on the neighborhood. finally, you NEED to check condo bylaws to ensure that renting is allowed and unrestricted before you purchase. some ban rentals or have restrictions and you need to know. good luck!

I'm even doing long distance landlording on the CA property, its not ideal, but several factors, (poor PM company and CA Franchise Tax Board not withstanding) contributed to that decision and now I feel more confident in my skills when I go to convert this Ohio property.Bottom line, you can do it in the military just fine, you just need to work hard, oh and since this is passive income you don't need commanders approval for this as your second "job" which could help if your commander wouldn't otherwise let you work outside the military.

I deal exclusively with regional lenders that do portfolio lending.I like working with regional lenders because I can speak directly with people that play a part in the decision to lend.  

Been learning some stuff through him but ideally looking to get out on my own.

Ideally your FICO is > 740.I know what you mean, but they're still underwriting the property, as it has to meet guidelines for condition/habitability, appraisal amount, etc.