Because I hate to back out on my word, as an exit if no buyers become available before closing, I would purchase the property myself (more than likely via HML with at least 1year before the balloon payment) and continue the search for a buyer.My main question is: Would it be worth it to hold off on purchasing properties so that I can qualify as a first time home buyer when I do purchase the owner occupied rental property?

If you have no intention of selling the property then a master lease option is not a viable option.

Where are you mainly doing your buy/holds?

The main reason to do this is exponential growth and the resulting cash flow.Obviously you are good at running a business and have the concepts of cashflow down so holding commercial would probably work well for you.

`(e) Requirements of Insured Mortgages- To be eligible for insurance under this section, a refinanced eligible mortgage shall comply with all of the following requirements:`(1) LACK OF CAPACITY TO PAY EXISTING MORTGAGE- `(A) BORROWER CERTIFICATION- `(i) IN GENERAL- The mortgagor shall provide certification to the Secretary that the mortgagor has not intentionally defaulted on the mortgage or any other debt, and has not knowingly, or willfully and with actual knowledge, furnished material information known to be false for the purpose of obtaining any eligible mortgage.

I have another duplex that I lived in, couldn't sell, so now I rent it.This is my first property bought with the intent of renting it immediately.This house is a duplex - they are asking $45,000.00It has a 2 bedroom and a 3 bedroom apartment.

The main reason I am asking is because I have a seller who has agreed to a price and terms, but does not want to sign a purchase agreement that is assignable w/o knowing that someone will buy his property for sure.

My main point is not put down LARGER deposits to entice sellers to accept contracts, if you can still back out and keep your earnest money.Thanks-Terry

You describe something similiar to a sandwich lease where for all intents and purposes, the person in the middle is a broker and can get in trouble as such if you aren't licensed and things go way bad.

The main thing to remember with PM is to have certain policies and to stick to them.