The changes will merge the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing Disclosure.Expect delays with closings going forward!

The changes will merge the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing Disclosure.Expect delays with closings going forward!

The changes will merge the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing Disclosure.Expect delays with closings going forward!

Typically the biggest issue is debt to income ratio, as both of those loan types are low down payment loans and typically have higher monthly payments. 

I'd run a credit check, to verify past addresses and to see what debt they have.  

If you have access to $30k homes, can afford the costs of renovation and the costs of the resale while remaining profitable you're only a "friends and family round" away from being in business.This is a sum of money that banks are just not going to write short term debt on without excellent credit and collateral.

The grittier matters of concern is likely to be your mortgage rate and consequently your monthly payment and other monthly expenses and to what extent these expenses are completely covered from rental income (think debt service coverage).When researching, you of course want to look into the FHA loan limits on a multifamily as it applies to you and where you are able to buy in/at per the limit.

Once you have that income number in place you can then look at expenses and debt service on the property and determine if it makes any sense.

Hello BP, sometime ago i read "The definitive guide to using seller financing to buy real estate", and only thought that to prevent due on sale clause, that would mean i can only used this method on debt free property.

The changes will merge the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing DisclosureExpect delays with closings going forward!