The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014.FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located.Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping.FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state - and federally - chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.The regulation, including its exemptions, is still in effect.Quick Links and ResourcesReview the Federal Register Notice (Docket No.

IMHO anything other than a clean contract negates or nearly negates the premise we are operating under- which is a bird in hand is better than two in the bush.  

Marie P: Just out of curiosity: did you post here in the forums about buying that property or working with this TK operator?

I just relocated here a year ago and am ready to ramp up our operation if you know of someone please pass there name on to me I will be eternally grateful thank you

Not sure how things operate in Arizona, but I'm sure the process is similar for most HOAs. 

I paid my attorney $500 for a strong operating agreement semi-tailored to what I am trying to do.  

I work a wholesale operation in Okc.

There are turnkey operations in San Antonio?

The turn key operator you choose is critical.

That you believe this to be how RECs operate shows that you know very little about how real estate is regulated at the state level.