In addition, property appraisal and inspection fees are set by FHA.

Granted, I have never inspected their work, but they are well respected in NE Ohio.

I'm willing to jump through all the bank hoops (appraisals, inspections, etc...), I just don't understand why they view this as "Risky".Thanks,-Michael

It's easy to read and they have live help on the phone.Their criminal background check is worth the money and they've dug up things that the applicant swore had been expunged.You have to go thrrough a security background check and an office inspection; nothing hard about it.Credit reports come up instantly on-line.

You should have a couple "out clauses" or "weasel clauses" in your contract to protect you just in case you cannot find someone to sell it to.The most common clauses are the inspection clause and partners approval clause, ill give an example of both.This agreement is subject to final inspection of the property by the buyer and/or buyer’s business partners on or before certain dateThis agreement is subject to final approval of the property by buyer’s business partners.I am not a lawyer so make sure you have your lawyer inspect your contract and these clauses before you use them.And just like wheatie said, if worst came to worst and you had to break your contract, the earnest money should be sole remedy of the seller, so make sure that you are structuring your deals with little to no earnest money.Good luck

The numbers look like this: Property price: $47,000 (our offer) # of units: 5 Monthly Rent: $1,900 Expenses (assuming 50% rule): $950 Down Payment: $10,000 Monthly Debt Service: $287 (20 years at 7%) Monthly Cash Flow: positive $663 ($130/unit)I've had the place inspected and it will take some money to fix it up.

Downplays or doesn't get inspection.4.

I know that they will come and do an inspection to determine the maximum rent.

No other contingencies, inspections, etc.There were multiple offers submitted with mine and we had to fill out a multiple offer form as well as a number of riders and addendums that SUPERCEDED the contract.On the 5th business day, they countered with $89,900 and $2,500 Earnest Money with mortgage application within 2 business days instead of 10 that the standard PA contract form we used listed.

Then the lender will inspect and reimburse you for work done.