It is common to have the FHA appraisal flag small items, peeling paint, correct, re-appraise, and purchase. 

So i understand correctly you’re saying that as long as the numbers make sense beforehand and I do my due diligence the terms are less important?

I also want to be in a position to buy if we do see a housing correction, am I correct in thinking that cash would be king in a recession?

I won't go into details on a forum such as this though.I think you that you are correct in that you should assume liability if it can be determined that your work caused the problem.

Is this correct?

It is correct that it'll take a while from purchase to flip but that is because TJ is doing so much business.

@Luka Milicevic correct me if I’m wrong. 

Here is an example:Foreclosed PropertyProperty valued in the $150-160k rangeAsking price is $99,900If I only put down 5% the LTV would still be less than 80% correct?

Am I understanding this correctly?

@Ray JamesThe simple answer is no, I personally would not, if for nothing else that to pay 5 points (4.9 pts technically if I recall correctly) and 15% is way too expensive in this day and age of competitive lenders.