Hi Mike - yes I know there are tons of options here but I'm trying to understand why a habitable house is supposedly not eligible for financing.

They technically could be used assuming the property is habitable and can qualify for conventional.I don't know your market but here in mine you would lose every deal to cash and HML guys though.

Nothing was signed and there are no legal remedies involved this early in the process, so no harm done should things not work out.It's not fool-proof but it's less risky than most other aspects of REI 

If you can fill the vacancy it might be best to operate under a “no harm no foul” policy.

You shouldn't have a problem insuring it if the property is habitable. 

It is doubtful that anything harmful would come up, especially considering her age.

@Justin Thiesse  those work very well in the right spot and if you can build them efficiently. in some areas and I don't know yours.. but some developers went high end on the storage.kind of like building airplane hangers ( the best rental ever LOL)they built high end for those that have expesnive car habit want a shop to tinker.. need to park their million dollar motor home.. want to build a man cave away from the house..you should see what some folks do to their aircraft hangers.. there should be a reality show on that some pretty awesome ones I have been in.. our is just a hanger..

I have looked at a particular property selling for 62K, with a lot of rehabs pending in order to become habitable. 

I wouldn’t expect the tenants to pay rent while the home isn’t in a habitable condition. 

It would be nice to share ideas.A few more specifics: - I’m interested in single-family or small multi-family dwellings in A or B zones- The closer to the West Coast the better, but that said, I’d be willing to go all the way to Nova Scotia if that’s where the math works best...ideally I’d like to follow the one percent rule - Random detail: I’m actually a poet looking to support my writing habit through sound investing.