As long as you are planning on occupying for the required time then flipping it to an investment, I think that’s a great strategy.Definitely would not recommend or approve of ethically purchasing a property using one of those loan vehicles for an investment.

Does your contract say it is null and void if you don’t have financing approved within 2 weeks OR does it say the seller has a right to cancel if you don’t?

I guess I was thinking that I would need to have the money in my business's possession somehow before making offers or to have a pre-approval letter indicating my ability to purchase the property, etc..

Also, a HUD approved tenant doesn't want to lose that certification and you know that portion of the rent will be paid even if the tenant doesn't.

As I understand it has recently been approved from a state and/or county, but perhaps not city level.

Looking for the cheapest place in New England to buy multi families with good rent return, good quality of life, population growth, not a terrible tenant pool and somewhere to be approved for FHA (only a 200k loan) currently looking around Hartford CT, and Springfield Massachusetts.

Was hoping for some advice or tips from anyone who understands the credit industry or went through something similar.PROBLEM: So this weekend my wife and I went to meet a couple lenders to get a pre approval letter so we could purchase our first Multi Family.

He said that if I was able to raise 50% LTV I’d have a 50% chance of approval.

They went to one of my properties 4 times before eventually approving the unit for rent.

As it is, just the length of the section probably makes people who would get approved think that they won't.