The downside to holding on to this property is it will need new windows and a new deck in the next 5 years and is on 3/4 acre lot so mowing and yard work are a challenge to have the tenants take care of.

The thing is, they wouldn't charge a closing cost and take care of all appraisal/title fees etc..Ideally, my goal is to cash flow as much as I can monthly so Traditional Cash Out Refi seems like the better way to do that.

The thing is, they wouldn't charge a closing cost and take care of all appraisal/title fees etc..Ideally, my goal is to cash flow as much as I can monthly so Traditional Cash Out Refi seems like the better way to do that.

If they have skin in the game, like you do, then you can feel comfortable.  

Does FHA care?

My mom and I would like to transfer the title of her home from her to me, in order to protect the property from the costs of nursing home care, if she should ever need it.

Also, in many ways they don't care -- if there is an emergency they will do whatever is needed and ask questions later.Neighbors can report can report complaints to the city/town who will track down the owner via tax records.Therefore, I believe the notice is to benefit the residents so they know who to call for maintenance, complaints, etc.

Careful as some areas they will require it to be finished as a single family if not a true multi.

However if you have tough skin and can handle C- to D tenants and neighborhoods you can definitely make a killing if you buy right.

The owner could be in a hospital, or incarcerated or on a trip, caring for a sick relative in a different state or in the military on assignment or any number of things.