If you tell me the state I can provide a cost based on Fannie Mae standards and a approximate timeframe for a double check on their numbers. 

Hello BP Members,I am considering purchasing a foreclosed Fanne Mae (HomePath) home with a lot of upsides and down sides.

LOLI'm amazed, it's a Fannie Mae/Freddie Mac/FHA/VA requirement for common walls, driveways and wells.

Per fannie Mae guideline I found out that I can qualify to purchase one more home as a rental based on my my current income/expense ratio.How do I best make use of my equity for my next purchase?

I'm aware that Fannie Mae recently approved this, and it's referred to as "Delayed Financing".

I maxed out my Fannie Mae loans so this would have to be asset based lending.

You do also see an IO option on larger loans for stabilized property through Fannie Mae or Freddie Mac. 

"Purchaser further agrees that it will not enter into any contract for deed or lease with option to purchase agreements regarding the Property, unless Purchaser is a non-profit organization or has obtained Fannie Mae’s prior written consent."

For example, your standard Fannie Mae / Freddie Mac / FHA language says that the loan is due immediately upon transfer of the collateral to the LLC.With that said, some people move their mortgaged properties into LLCs all the time in violation of their loan agreements. 

@Michael Cornell According to Fannie Mae, the waiting period is 4 years, measured from the discharge date, for a Chapter 7, unless there are "extenuating circumstances", in which case it could be 2 years.