This states that they failed to meet minimum standards for qualification.

Is this the standard guidelines for a reverse mortgage purchase?

I've always used my states' standard purchase agreements, which I think include a line about transferring security deposits and prorating rents at close of escrow.

Is the property an REO or short sale or is it a standard sale?

The value is too high for a rental, so your best way to sell it for highest price is move out the tenant, clean it up to at least a presentable standard and offer it to the open market at comp rate.

You need to know what the condo doc.s procedures and standards are for allowing rentals.

Check around, it's a pretty standard model as people move away from ARV, and you'll save quite a bit of money in the process if your lender considers the reduced risk.Lenders love to see folks who are willing to fund their own rehab.

Arizona State level rule: State law has a standard occupancy limit of two persons per bedroom.

@Aaron Montague Nice links, another really good source of information on 203K loans ishttp://203kcontractors.com/faqs#min_max_repair_amountWe are currently pre-approved for the 203K Loan, going with the Standard/Full Loan Package, just hunting the perfect deal.

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