The lender said I need MLS comps that are within 1/4 mile away from the subject property.The lender said all comps must be within 6 months old and I also need active, pending and sold comps.It should also show how many days on market they are.

Nghi is correct.And to Dustin's point there are other creative strategies to acquire property such as Subject-To for example.

The property is located in NJ and the lease is 50% of market rate, zero security deposit with specific disclosures that property is subject to foreclosure (but does not explicitly say lease is automatically terminated at that point).

Has there ever been a time where anyone did a deal sub2 the existing mortgage of the seller and in the duration of the time of putting the deal together with the buyer.. had to pay the mortgage yourself out of pocket ...

@Adam FrancoFlips are recorded at your regular income tax rate, subject to self-employment tax.You figure out your final cost basis (purchase, rehab, insurance, property taxes, financing, permit fees, commissions, utilities, etc.) and the difference between the sales price and the final cost basis is the profit made that will be taxed as ordinary income.You should speak with a CPA to help organize things and try to minimize the tax impact.

Here's the authoritative source on the subject, Ms.

30316 is a Hot Area.

Colorado Springs was named the #10 spot for hipsters, the highest ranking in the state.https://www.bizjournals.com/denver/news/2017/10/09...

@Riley Higgins is there a reason why we want to do a "lease option" over a "subject to"?

Take a look at your leads - are they hot?