Let's quit the word games and personal attacks.Stop making these accusatory comments at me.It's wasted space.Let's stay on the subject of the topic.You seem like you are frustrated with trying to buy an REO property and trying to direct it at me.It's simple.If you are a cash buyer then show the REO broker you are serious.Show them proof of funds valid within the last 30 days from your bank account.If you are using hard money then that is different from cash and subject to the appraisal and valuation the hard money lender wants.If your boyfriend is a contractor then maybe you can save on a home inspection and do it yourself.The REO brokers loyalty lies with the asset manager and the company they get listings from.Again if you are buying one property the REO broker is usually not going to work hard to get that accepted unless it's at asking or above.The bank is possibly giving 20 or more properties a year to the REO broker.

I don't know anything about the transfer taxes or other games The People's Republic of Kalifornia makes you pay.

Just google "loan servicing company for private lenders" and you'll see all kinds of well-established firms that do this work.

This bulk REO-to-Rent buying started with large banks, and is now being extended to the GSE's (Fan/Fred/HUD)http://www.housingwire.com/node/32233http://www.gipartners.com/news/waypoint-real-estate-group-and-gi-partners-establish-partnership-to-build-single-family-rental-

Every state has its own guidelines that establish procuring cause.

I am after all new to the game and may have jumped the gun making such claims.

Originally posted by Jeremy Namen:That sec8 story is a bit disgusting,but a perfect example of the many flaws in govt programs costing tax payers.Section 8 established fair market rent prices and operates with a 'rent ceiling'.

Jeff,The tax law on 1031 property converted to a primary residence changed a few years ago.You can still convert the property acquired in a 1031 exchange to your principal residence after at least a year of investment use to establish the exchange, but (here is where the rules have changed) you are not eligible for the Sec 121 capital gains exclusion until you have both owned the property at least FIVE years and occupied the property as your principal residence at least two years prior to the sale.For the rental property converted to a principal residence, the rules for the capital gains exclusion changed in 2009.

The main reason I leased to these people was because they wanted to buy, but did not have established credit.I'm trying to get out ASAP.

If I establish income upon returning, could I get credit before 2 years provided I buy points and have some reserves?