@Glenn Thompson, there are a lot of 'B' lenders out there, who do not ask for verification of income - will loan strictly based on property, some are more expensive than others, depends on what you need.

You never know, that being said, all 5 of my short sales were only for that buyer and they were very strict about no assignments. 

If you are thinking strictly as a rental, then that issue disappears.

But these loans are strictly for owner occupants. 

Hi,I just started real estate investing in Texas,Would like to do some Pre-foreclosure and got my leads through ListSource.But after reading some forums on BP about strict laws in some states on not to contact the home owners.

I know the city of Austin is strict about permits...I just would like to know if anybody has any advice or words of warning, so that I can educate my clients and myself.Thank you!

The biggest downside to these are the strict guidelines that must be met and time frame in which it takes to go through the process.  

I started as a loan officer in Southern California, then went on to work as a title representative, then a mortgage broker (smaller brokerage), then a real estate broker, and finally onto the freedom of just strictly being an investor.

most if not all Brokers have developed strict associate guidelines such as a total BAN of dual agency on any property in which there is an agent/broker OWNERSHIP interest for whatever the time period (ie the contingency contract u assign as a wholesaler).

I want to explore other avenues for income properties while im waiting. i talked to a couple lenders about what the requirements are to get into a strictly investment SFH property without being owner occupied and the answer I've been hearing is I need 25% down.