All,I am in the middle of purchasing a duplex using FHA Loan and I am trying to lock in a rate.

targeting higher flyers who want to say 'test the waters' in a foreign (to them) neighborhood, in exchange for 'locking- in' a buy price that fits the 2- 3 year average appreciation from say an 'expired' and/ or FSBOer who overpriced their property, then corrected their asking price 6- 12 months too late... and now are perhaps in another state, etc.

I have heard it multiple times on the podcast, if the numbers don't workout, don't pull the trigger!

I just locked in with a different lender at 3.625% @Jesse Cabot with only about $2,600 to close which I think is great.. much better than 4.25% with $4,400 to close which was my prior lender.

This theoretically triggers a default clause on the loan document, but as the mortgage will stay current, lets assume nothing happens.5.

This can be determined by doing some very thorough DUE DILIGENCE before you pull the trigger. 

But, I would insist on a 5% down payment, a $200 per month rent premium that would go towards their equity, a fixed time to pull trigger and they get their own financing and also that they are now responsible for all repairs up to a set limit.

My 'mentor' wound up going behind my back and locking up the deal for herself and her other partner.

Any time name on the title changes, this close gets triggered, and your mortgage is due in full in 90 days or so.

@Curtis Deckard Just cut ties and change the locks when she moves out.