Section 513(a) of the National Housing Act, as amended,provides that as long as mortgage insurance is outstanding,no portion of the housing covered by any such mortgage shallbe used for transient or hotel purposes;The Secretary has defined the term transient or hotelpurposes to mean (1) any rental for a period less than 30days, or (2) any rental if the occupants of the housingaccommodations are provided customary hotel services suchas room service for food and beverages, maid service,furnishing and laundering of linen, and bellboy service.Thanks,Ate

The ability (at least for Pro accounts perhaps) to sort colleagues into different folders or groups would be an outstanding and much needed feature to BP Nation!

There are so many "gurus" out there....REI is great but its been damn hard to find one who's genuine and candidly isn't full of sh*t.

I do not know of any outstanding resources.

However, cash flows are pretty damn good.

On refinance, you will have to 'repay' whatever the amount is outstanding at the time.

Damn, I didn't even see the colleague requests.

General things to look out for per Fannie Mae: - Built on or after 6/15/1976 as evidenced by a HUD Data Plate and HUD Certification Label- Must not have been previous installed at any other site or location- Any outstanding vehicle title is surrendered prior to, at or post-closing if already real property- Minimum 12 ft wide and have a minimum of 400 sq ft gross living area.- The towing hitch, wheels and axles must be removed- The client must own the land, leaseholds are not allowed.- Must be anchored to a permanent foundation system in accordance with the manufacturer's requirements and must meet local and state codes.- If the property is not situated on a publicly dedicated and maintained street, then it must be situated on a street that is community-owned and maintained, or privately owned and maintained.

One thing I would add to that too though is that we typically see the value of the property improve once the city utilities are connected, less any outstanding balances to be paid.

If the latter, then the emphasis needs to be on what the cash flow looks like once you move out (also why the advice on paying yourself rent is outstanding).