Will the title company handle the paper work for the land contract for us after I send them the purchase agreement, and if so, about how much should it cost? 

Essentially your “skin in the game” so it cannot be a loan from a bank, friend, family member, etc.

In a reverse, your QI takes title to the land (with the funds provided by you that you mentioned) as what is called the exchange accommodating title holder (EAT). 

Sounds like you are on your way to killing the game already! 

@kevin hunter really appreciate the advice boss I’m actually prequalified by vets United and I got my letter, just need to finish the last things in there to do list, I’ve also been in contact with an agent for the last week out in the 29 palms area so I’m stepping game up in every way you just described thanks boss man !

.% down of the purchase price and the rehab costsCan be used for primary residence with 1-4 units (could also be looked at as a disadvantage)  When using 2-4 unit property, projected income from other units can be used to qualify 6 months' worth of mortgage payments can be rolled into the renovation budget if the house is deemed uninhabitable by the HUD consultantCredit scores can go down to 600s (lender dependent) DTI can go to as high as automated underwriting system allows (typically 56.9%)Allows you to buy a property in any conditionCan use it to fix minor repairs all the way up to basically a full tear-downFHA 203k Disadvantages: Interest rates tend to be about .25-.5 higher than regular FHA loan Additional costs include HUD consultant fee, inspections, title updates, and supplemental origination fee (Cost of doing business, but this is built this into your numbers, so it's no big deal)Must use a licensed General Contractor for a full 203k or up to 3 specialized contractors on the limited 203k Must hold onto the property for 1 year and live in it. 

The owner has a contract for deed with a balance of 2k due.After a title search can I have the owner sign a quit claim deed?

@David RobertsWe just got an appraisal for a refinance (no seasoning of title by the way) of a property off of Glen Arm close to Glenmore and Bel Air Rd in the 21206 zip that was a four unit (1br/1ba each unit) bringing in 2350 per month. 

(we will both put even amount of down payment -skin in the game)  Can we both apply for the loan or is it better to have one person finance? 

Darryl Lackey - if you want to invest in notes you will need to learn the game which if you ask people takes a year + to really get solidified in getting your systems in place.