financing is the biggest headache I deal with,,most of the guidlines you are talking about aren't with the bank, but with Fannie,, some of the rules make no sense,, and one mystake can make it so that you can't go conventional, but there is always a portfolio loan from a bank (a loan they don't sell), but you won't lock in the rate for 30 years

Could you suggest a website (if its within forum rules)?

You'll quickly master the 50% rule and 2% guidelines.In terms of going from OO to NOO... on FHA, I believe you're committing to living in the unit for 2 years when you sign the documents.

I tried to include a snapshot of all the late fee rules but for some reason I'm not able to upload any photo's to my BP gallery.

As Mark noted every MLS is different with rules,regs,and procedures.So people's "tips and tweaks" may or may not apply to you locally or work.Ask an agent local to you for clarity on MLS locally.

I'm unaware of any rules surrounding this sort of transaction since it's new to me but seems legitimate.

-Steven the Tax GuyYour guide to IRS laws, rules and regulations.

What you are seeking to do violates RESPA rules.

I am not sure if this is a good rule of thumb, but i try to make sure that my mortgage loans do not exceed the cash i have in hand.

Insurance would be listed separately in Box 4.http://www.irs.gov/pub/irs-pdf/f1098.pdf-Steven the Tax GuyYour guide to IRS laws, rules and regulations.