There wasn't a need to have robust documents, just what was needed for a note and deed of trust to secure the investment.Selling to an owner occupant, I would definitely let the MLO take care of everything.

Under promise yourself, over perform.

The bank views a year lease as less risk for them and a form of stability which as investors we know doesn’t equate to security in the real world .

If I purchase it with my husband’s IRAs, and if he does the landlording, then could he could take withdrawals, which would then pay social security taxes, on right?  

Would I be allowed to perform repairs on the property?

There's a lot of red flags on this and I would personally move on.If you still want to pursue it after looking at their background and credit report, might I suggest  a higher security deposit or pet fee up front.Still, there's always better tenants out there for you.

Make sure you check your local/state laws on late fees and security deposits.

There are very few of them that can actually perform as most wholesalers don't have the financial capacity to close.I know I wouldn't sell to a wholesaler .

Since that time we have secured five deals and have two more in the pipeline.

They do limit security deposit to 1 month rent though.