I bought a REO from a large nationally known bank in July and the proof of funds was as has already been stated, just a copy of my bank statement.

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

There may be local ordinances that exist that would be in violation, (such as preventing discrimination based on source of income) but I’m not seeing why “section 8 preferred” is considered an across the board national violation.

I've heard good things about Waukesha State Bank and Tri City National Bank too.I've heard of the 80-10-10 (piggyback) loan (10% down, 10% HELOC, and 80% mortgage) but have no experience using it and never asked a lender about it.If you're a first time homebuyer, you might find a loan with a low down payment and no PMI.

There are several national apartment owner associations that you can find by googling.

FEMA - National Flood Insurance program (NFIP)    - Depending on age of property, you may need an elevation certificate (see if current owner has one)    - If the Flood zone changed recently, the rates may be grandfathered in    - Check the flood maps to make sure the building is in the flood zone or just part of the property2.

I make a good salary as an architect designing large apartment complexes for national developers. 

Tremon Payne,Are you just starting out on the path to preparing for the National Exam?

I just read your posts and numerous comments from others on your intent of your first FL vacation/rental home - I thInk a year ago now.

I am living in this house, 8 months in and have done numerous updates.