Going back through my records, BofA's approval letter clearly states the language they will "waive their right to pursue collection of any deficiency after the sale..."

The plain meaning of the language of Section 6 of your Second Home Rider contract is clear and unequivocal that the rental of your property is not allowable.

Yes, the tenants are a different breed but you can also find some overzealous local city and county officials who can make mobile home parks a pain to run.The Dodd Frank bill changes everything for anyone trying to seller finance and it could mean some ridiculous fees.

Not sure if that's an official investment term:) Investment wise, you would be better off in Reit at 6%.Thanks,Matt

It's official you are now on my unofficial Northern Colorado advisory board!

And now that you're "officially" here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Goldsboro" or "Raleigh" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area.

You know what you want in life; business courses, finance courses, pre-law courses and yes even language and history courses will help you get there.You are closing a lot of doors that could help you and you will find it very difficult to reopen those doors in future when your brain has fully developed and you have your "Oh Sh!

@Will Wiest I used a multi family purchase and sale contract (suggested by another BP member) that has language for security deposit transfer, proration of rent etc.

Because of this, they expect the prices to drop double the official estimates.Now I wonder, is this a reliable indicator?

The costs of the appraisals shall be split equally between OWNER and HOLDER.The ROFR is a useful tool which stops short of being an executory device, but only so long as one does not try to stretch the language in order to make it an option by a different name.DAVID J.