Based on conversations I've had with lenders, I'm told it's important that the buyer's option fee be deposited and cleared thru the seller's bank account to meet lender requirements.  

I've had several conversations with Jack Sternberg and we both agree that we want to focus on CONTENT.  

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Below is my best account of how our conversation went, well the bulk of it.

I knew her moving with me would be a disaster for multiple reasons so I told her no and got roommates to fill the rooms so I wouldn't have to have uncomfortable conversations with family.

You exit the interstate and go right from a certain direction and all these new buildings are popping up and traffic has gone from 9,000 cars a day to 15,000.Conversely on the opposite side when you hang a left that side the traffic counts have stayed the same at 6,000 cars a day.

Here are a few recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

I figured folks on BP may enjoy it and it may spur some interesting conversation.21 Ways Rich People Think Differently Than Average PeopleEnjoy!

Also, if you can replace that $418/month car payment with something around the $200/month (or even lower) range, you'd increase your borrowing power even more.Good luck, Doel!

It will be a conversion to a 2 family for a long term buy and hold.