In markets like Manhattan and Brooklyn for example, this does not work nor does it work in any of the (non-declining) major cities I canvas.Thanks for your reply…as I am getting more firm in my decision to walk away.

There would be a non-refundable option fee.

This will be non refundable.Make sure that your buyer is okay with the sells price of the property.

Perhaps in this case previous landlord responses (apartment building references are the best and non bias!)

I have a rental property that I paid cash for. Now that the rehab is done and I have a tenant, I'm looking to finance it. I've been talking to an affiliate of Wells-Fargo. The good faith she sent me shows $0 originati...

I have experience in buying non-performing mortgages but not in the wholesale business.I would love to hear how this all works as I am trying to get into this area.Thanks so much!

It's easy to evict people for non-payment of rent, but can be very difficult to evict for other issues.

Banks will look at all credit scores that are involved but your business plan, ability to purchase good deals with low LTV ratio's and the fact that the other members have stellar credit will all be looked at and also taken into consideration.The idea of having a few "senior partners" with more share in the company can be done, so long as the other "non senior partner" agrees with the terms.Which ever way you choose to go, you MUST have an iron clad operating agreement written up by a competant attorney.

Storage of non-operational vehicles will be offsite.Military clause if member gets orders for greater than 179 days.

As with bank examinations, an audit or exam date is established and everything is brought current to that date.I think what the original post concerns is the success in audits finding issues of non-comlpliance for the popular purpose of having loans written off or foreclosures terminated.