My question is this is an REO property and the agent's instructions are requiring POF or Renovation loan to be attached with the offer. 

Living at home long term and banking the money is not necessarily the best financial move because the money is just sitting in your account and not working for you.

An issue that has plagued this whole situation is that when my parents got sick they were behind on their mortgage and the bank wanted to foreclose the home.

But again, the data only tracks on-market properties that have their name attached, not the name of a team member/leader.Hope it helps and good luck

You'll get better deals if you can pay cash.Keep in mind that many banks won't let you refinance (even if you paid cash) until you've owned for 6-12 months. 

I have found a great deal that I want to purchase and need advise or examples of what people have used to approach the bank.

i need an agent that specializes on foreclosures/bank-owned properties. talk to me if you have done deals like this. thanks

The third party leasing companies are able to leverage economies of scale/ bulk buying power on equipment / vertical integration to drive costs down such that they can install solar cheaply enough that they will be making money on the system very quickly if not immediately (by selling the tax credits to banks/investors/tax equity funds and by selling energy back to the grid at a premium) .

Yes that happens all the time, the key is to not get attached to any one property even after you already have it under contract.

It had a quit claim deed attached to it so we had a title search done.