(I'm not a lawyer nor do I pretend to be legal council)That section you posted is from the TREC 535.16.

I'm not a lawyer but I always thought that once the breach has occurred there is no going back.

Hi Kay,i have not been around here in BP for a while but want to comment on your post :)me, also looking for a 2 or 3 family home in the Bronx area, talking to some RE agents and already pre-approved for a loan but following some of the rules like the 70% as you said nothing fall into that.my 2c,check the roof condition, see if you need one, and what is your exit strategy (are u fixing it up and puting the house back in the market or you want to rent and get montly income from it).

Even if the owner trashes the house to a worst condition than when I originally bought it, their is still enough equity for me to do anything I want with it.

High in crime and reported gang activity.The property is a turn-key flip, so it's in tip-top condition, practically looking brand new.

My lawyer is ready to close as we'll as the seller.

In terms of the condition of these homes, I heard that they require minimal repairs since they are taken good care of while they are up for sale.

Debt expense is roughly $2400 / month Annual Tax: $10,500 Insurance: $3,500 Heating expense (Nat Gas): roughly $4850 / year (One boiler for entire building & two water heaters) Estimate expenses at 5% of Gross Income Annual Rent Roll: 70k ACQUISITION COSTS: Lawyer: 1k Appraisal & Environmental: $2300 Tank Sweep, LLC Set up, Survey, Misc: $1500 Title Fees & Bank Attorney: $5K Bank Origination Fee, Gov Record Fees: $3k The property did come with one unit vacant which I filled this month.

Ask a real estate lawyer and be on a safe side.Joe Gore

The buyer has agreed to the terms and conditions but his attorney has never done a deal this way and thinks something is wrong with this transaction.