Their credit is on the lower side (400-500) and there isn’t any previous rental history.  

Another nice benefit is that you're already situated in the building so your 'workload' really will be pretty mellow.

I would also consider buying an existing bank with credits already approved.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

A 5  year old USDA loan for an assisted living facility for $10M. This loan is in place,   $300,000 loan guarantee fee to USDA for 70% guarantee. $7M.      Do you know if the loan is assumed, that the guarantee will...

With this being said, unless there's a specific reason for mom needing to be removed from title (i.e. social security benefits) it may be more prudent to pursue placing the home within a trust with your husband named as a primary beneficiary.

It can be anything (time, money, leads, admin work etc.) but if you aren't going to bring anything to the table, it's going to be difficult to find someone who is actually interested in helping you for no mutual benefit!

One wrong move, one wrong contractor, one wrong vendor…will erase any "benefit" one city has over another.

This family member is fully trustworthy and doesn't need the income per se, but structuring it this way could benefit both of us.

Thanks10 new Development LLC, A new jersey limited liability company.This certifies that Borrower Name1 is a member of the above-named limited liability company and is the owner of Fifty (50) units and is entitled to the full benefits and privileges of such membership, subject to the duties and obligations, as more fully set forth in the Limited Liability Company Operating Agreement.Whereas, Borrower Name1, hereby sells, assigns, and transfers unto Lender Name, successors and/or assigns as their interest may appear his Fifty (50) units Membership Interest in consideration for a loan in the amount of $Amount.00.IN WITNESS WHEREOF, the Limited Liability Company has caused this Certificate to be executed by its duly authorized members this Date 2024.