@Peter Hanson Could you go into a little more detail regarding exactly what you did to "network" - who did you talk to, what did you say, etcAnd what your strategy was for searching on the MLS and making offers?

Feel free to send me the details...my partner lives pretty much in Woodstock...The $15-20K in rehab is the number I'd question the most...unless the house is less than 20 years old, in that area, the rehab will likely be more than that...

I provided the contact details for a good RE attorney.

When does the detailed inspection take place?

@Bill Gulley no doubt will add more detail if he's avail.

Originally posted by @James Mudd:...and then refinance to conventional.Okay, so you will buy with FHA with little down, pay 100% of the upfront MIP which is 1.75% of the loan amount, pay the closing costs, then over the first year pay down the LTV to under 80%, then refinance conventional and pay all the closing costs again.Sorry, it still does not make any sense.Run the numbers, you would be a lot of money ahead by just getting a conventional loan at less than 80% LTV from day one.What detail are you leaving out that makes this make sense to you?

I try to do my research before posting anything as I don’t want questions to be redundant or something that people have talked about already in great detail, however I could not find the answer I was looking for.

He also has a great BP podcast that explains this in more details, I believe it was podcast #48.Best of luck to you!

Second you can pay a search company to find out all the details you need to know, but this is limited to a certain % of accuracy and option 1 is your best bet.

I needed someone to simple out the process so that I could go in and add details as necessary.But now I have a good flow chart to kind of go off of and just deal with the curveballs that come my way.