At 55 days past the receipt pre-approval letter, he tells me that the buyer has past "credit issues", so in spite of my questions about the quality of the pre-approval and his answers assuring me that he had done the homework on it, it was not worth the paper it was written on.On the other sale, he pre-approved my buyer for a $0 down USDA loan.  

I called my local (former) imortgage branch to see if they're still doing the VA Purchase and Rehabs, and they assured me they were and that all the Loan Depot branches were doing them now.  

However, there is a fine line between compliance and taking advantage of the situation and stacking on junk fees.

@David Faulkner  Ken I can assure you Mr.

Correct, there would be less equity to pull, but that equity would buy you far better deals on far more property, and you'd know for sure at that time which markets are 80% off, and you would be more assured that you would be able to carry that extra debt (still not guaranteed), because if you don't have neg. equity and can service the debt AFTER things crash, then you sure as heck can much easier once they recover.

That's a GREAT Bargain because you are assured that you will get much more than that if there are no conditions that offset that difference!

I think Uber is the prime example of a company using the strategy of non-compliance and then forcing localities and cities to react to their business model.

Even if not in compliance, you could have something very worthwhile to an investor willing to get it up to current code.I would call the building department before your trip and get all of the information you need from them.

Give Janet McCaskey with Member's Assurance Property & Casualty a call.  

If AirBNB isn't paying for its cost of doing business, making billions of dollars a year, why does it make sense to have the cities and states tax its citizens, to fund investigations and compliance, just so the responsibility of AirBNB vetting of its customers can be paid for with tax dollars?