Spend more than half of your total working hours in an RE business in which you materially participate.2.

Most commonly in this area it would be for boats/campers.Specific insurance?

Am I correct in this assumption?

Am I SOL or has anyone find a loophole or different product that will allow for this type of scenario?

In short I want to know ways that you have made deals like this work and/or any creative solutions for keeping a tenant in place. 

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

It will be all materials supplied, so it's just labor.

Hi, I’m Ann and I’m new to this platform.

This is truly a fantastic place to connect, learn, and continue growing your real estate knowledge and network.Keep up the momentum, and feel free to reach out if you ever want to share more about your journey or need advice.

or any kind of product that will help me tap into the equity of my lot.