If your payment isn't too far off from potential rents, you could consider a lease with option to buy, but I'm not a fan of LOs.

Zachary- As a staunch BYU fan, I'd never be able to adopt an Irish!

As I understood it, they might be inclined to look the other way for a seller held second lien but I wouldn't put my eggs in that basket as the regulation is pretty clear and I am not a big fan of the wind blowing and the state deciding to enforce the regulation to its fullest extent.

Corey -First, I don't defend anyone who signs a commitment letter and then shops around -- I'm a big fan of integrity, and if you commit to something, there better be a much better reason than "I'm trying to do better" before you back out.That said, before signing a commitment, I don't blame anyone for shopping around, even if they've been satisfied customers in the past.

First, the poop didn't hit the fan because credit scores were artificially inflated - the poop hit the fan because lenders were lending to people with bad credit and lending too much money to everyone.If you had great credit and bit the dust because you borrowed too much, it's my opinion your credit rating should be lowered and it should be harder to get credit.Just because a lot of people messed up, doesn't mean the metric by which lending risk is evaluated should be changed.

Scott - I'm a big fan and read your blog quite a bit.

The next networking event for Bigger Pockets members in and around Houston will take place July 16th at the usual spot at 6:30pm.Block 7 Wine Company720 Shepherd DriveHouston, TXI know some folks aren't a fan of the location but it is central Houston so we can draw from all over town.Just last weekend I was having a discussion with BP member Chris Clothier about the caliber of people the BP brings out.

Refrain from having speakers try to upsell a captive audience.

I am not personally a fan of the make higher offer, then once in escrow, ask for a reduction.

I am a big fan of leverage myself but also want to account for worst case scenarios.