Each investor that a lender sells their loan to has different requirements on how many mortgage payments need to be made before we are not longer at risk of a charge back.

Bryan has made the 203k loan one of his specialties!

@Timothy Mackinny You made an absolute very valid point and I got lower rate than this one who I want to deal with at moment but I didn't feel comfortable dealing with them. however the busy builder has no time for my lower cost projects.

I appreciate the input on a couple past post I made in reference to this deal.

Most of the posts here are the people who invested with them, but I'm the other side, just sold another house and made an offer on my next deal, CASH... 

So when you see some guy who did 1,000 transactions in a year...understand he probably has a team of 50 agents who made up that number.

Once you have made definite plans, and have the faith you can carry them out and the belief that you will, you are ready.  

Sounds like you have made some progress.

Thanks @Brent Coombs - I made adjustments as the deal was countered, and its looking more like a negative cash flow now.  

If they paid with 3.5% down on an FHA mortgage, and got the loan at the then-market rate of 6%, and made no extra payments, they would still have a remaining balance of $92k.