Cash out refinances where the subject property was purchased within 6 months (measured from HUD-1 date to the disbursement date of the new mortgage) when no financing was obtained for the purchase are allowed under the following parameters:  

hello to all,I am derrick shipman in Atlanta ,ga.i ran into a gentleman whose home is about to be foreclosed on 2-7-17.we both want to do a subject to.he contacted his mortgage company on this past Monday to try and get payoff figures (so I would know to the penny how much I would be assuming).here it is Friday evening and we cannot get a payoff -mortgage company is saying it takes 5 to 7 business days-problem is the foreclosure is this Tuesday.in light of that I wanted to know if anyone is experienced in guesstimation the payoff with the information I do havethis is on the 2/1/17 mortgage statement1) outstanding principla balance $237,793.212) escrow balance (-6755.62) yes that is negative3)total amount due 2-1-17 is $27890.22 which includes (25513.43 past due payments) plus (228.75 principal) plus (853.23 interest) plus (418.81 escrow) plus (15 late fee) plus (861 corporate advance)4) the monthly payment is 1500.79 and his interest rate is 4.375

If a subject property's rents aren't where they should be, this decreases the value.  

Although I can't talk too much on this subject due to the fact I involved in this industry.

Have 1-3 buying strategies to your arsenal so that you can make deal with your own or others peoples money.1) Wholesale by assigning contract2) Seller Carry for cash flow3) Subject to existing financingAlso what is extremely critical is to learn how to manage rental properties if you intend to be a buy & holder.Best of luck

I'm not sure if you can still do subject-to deals.

And it's not cap gains, it's ordinary income, subject o SS/med also.

I believe it would be in your best interest to understand the local market around the subject land and weigh out if 3 bedrooms, 4 bedrooms, number of baths, attached garage, square footage, and etc. would fitting for the surround area.

Always remember to do the math analysis and try to look at prospective properties before you make your offer or at least have a clause in the sales agreement that allows you the time (about 10 to 15 days) to make a detailed inspection on the subject property and possibly back out of the deal without a penalty that will hurt you too much.  

There are new laws under consideration, but it looks like it will remain 100% illegal in areas subject to rent control, i.e. most of LA.