I took a lot of notes and was eager to get out there and go!

It is important to note that some states do impose transfer taxes and other tax assessments.

I appreciate you all and have taken notes on everything that was suggested to me.

- It's funny, now that I have the money to pay cash I have made contacts and met other investors, turns out there's so much cash laying around looking for deals to invest in, I no longer have to use all my cash to buy#6 paid 85K used hard money for 3/1 SFR, spent ZERO on rehab, sold for $127K (buyer paid $110,000 cash, and agreed to a $17,000 1 year balloon note at 9%, which will pay off next month, created $125/month income for 12 months, and a nice pop is coming!)

Credit score = 680 - 700My 2012 and 2013 taxes show a total of $35,000My montlhy debts, total $200 And I'm looking at going with a VA loan as my first choice and a FHA as my second choice, so my max Debt to Income will be 50 I believe.From these numbers, I'm guessing I can afford a $450 - $475 house note ( tops ).

Be aware that if there is any existing mortgage that you assume, that lender has the right to call that note due in full.

If you can qualify your deal for CMHC coverage, you could have an LTV of 85%, but the fees would be 4.5% of the note value.

The rate can adjust every 2 years, 20 year AM, and the note due in 10 years.Can I seller finance a deal like this and have the buyer have the same constraints as my lender has on me ?

A lot of others doing flips, wholesaling, notes, everything..

Always best to check with a lawyer in the state you'd like to practice.Another note, states have differing rules on who and how many MHs can be sold before a licensing requirement takes affect.