yes that is a federal rule callded HVCC and it took effect on 5/1.From what I am told if there are no comps within 3 months they prefer to go with non-comps and stay witin 3 months - meaning if you have a fully rehabbed home and no comps other then bank owned homes in three months they prefer the appraiser to take the non comp comps before they do time adjustments.Silly I know but....I would ask an appraiser to pull some comps that are HVCC approved and get a value BEFORE you pull the trigger IF financing is required.....

There is significant mold damage (and yes, the "bad" kind) in the basement and at least 1/2 of the first floor.My husband is a mold remediation professional, so I'm not concerned about that aspect of the job as far as cost to demo, remediate and get "clear" mold counts.The put back numbers will be high because most of the walls & ceilings have to come out, and some beautiful 1950s hardwood floors may be beyond drying/repair.

I found a couple of killer deals there, but I wanna run them by a couple of folks who know the market before pulling the trigger...

A dog is a dog, not human, and operates on different triggers than humans, and believing they don't is potentially dangerous.

Yes Jon, the hoa had meetings and scared the homeowners (showed them pics of dry rot in a few areas) and got the majority vote.I think he is stuck and if they don't get the 15 financing then I don't know how he is going to afford the larger payments.

I'd incur UDFI from buying on low-down leverage/terms in the SDIRA; but apparently the Solo (Roth or not) 401ks are not subject to UDFI/UBTI, which opens up some good possibilities there.I've heard some people are optioning RE from their SDIRAs and Solo 401ks, since options don't trigger UDFI.

With an owner financed deal, you want a triggering event (i.e. non-payment) that causes the contract to revert back to a straight rental.

TeriJust to let you know what you wanted to do the first time is really a simultaneous close or a "dry" close where you use the funds from the second part of the deal to close the first part.Even though this is legal, it is getting much harder to find a title company to do them.and lenders are putting in conditions to prevent them.What your now going to do is a true double close or "wet" close where each transaction is funded separately.

There was a significant amount of time, money and effort put into getting the contracts created with the requisite triggering event and conversion clauses that negate the equitable interest, the documented supporting legal opinion from the drafting attorney (this is nearly impossible to get because no attorney ever wants the liability) and all of the actual supporting case law that supports the position for utilization in court with the judge as well as when speaking with sellers.

A few local investors have gone through it, but no one will pull the trigger.