@Patrick Allen I am in the Tucson area as well, and the 4plexes I have seen need extensive repair.

I have another HML telling me they may be able to close in a week but no promises...HUD offers extensions for legit reasons at $15 per day.

anyone have a similar situation. going to call lender after i get owners authorization and try and ask for an extension. anything you think i need to do just drop a comment and ill update as i go along. thanks. 

It is unlikely you can get a property with just $11K.The subject of self-directed retirement accounts have been discussed on this forum extensively, I suggest you take the time to search and read other threads. 

Hi Chris,Yes most people analyzing deals on these forums provide an extensive list of every number you can think of when often their basic numbers don't work out. 

Plus, when the time comes, do you know how to handle a mortgage payoff or loan extension?

Sub2 may be considered an extension of credit, as it's an installment sale to a consumer buyer.  

I  used ABT Home Renovations for a pretty extensive flip in north Phoenix.

And if they've put in extensive time and efforts into a deal that doesn't close, you may still receive a bill from the attorney's office.

Real estate deals are all about solving problems and creating positive outcomes for both parties: here you have the opportunity to possible secure an interest-only note with minimum (to no) principal repayment while providing the vendor with an opportunity to reduce their taxes.With respect to mortgage, I'll offer a contrary position to @Nathan Emmert as we make extensive use of variable rate notes/mortgages.