OK, I think I'm finally ready to look at flipping to owner occupants, and was curious how many of you active flippers use a designer for ideas on what to do with the house.

I have posted about this topic numerous times and am finally looking to receive an answer.

Oh I am conscious of paralysis analysis :) have to do something along with learning!

Honestly buddy, you seem to be suffering from analysis paralysis.

In Maryland notices to the homeowner say they must respond in 30 days, but the foreclosure itself can take another year and the owner can redeem at any time until the foreclosure is final.

When he finally gave me the fries I just sat there.

Owner Owes $85,000PITI is $794.00.Owner lives in another state and home is vacant.Our Strategy:[/b]RESIDENTIAL LEASE WITH OPTION TO PURCHASE AGREEMENT©I believe the RESIDENTIAL LEASE WITH OPTION TO PURCHASE AGREEMENT© is the Agreement used between ourselves and the SELLERRESIDENTIAL LEASE1) Rent: $ 800.00 per month (Based on current rents in the area)2) Lease Term: 12 months, beginning September 1, 2012 and ending September 1, 2013 .3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs of the property, not to exceed $200.00 per incident.OPTION to PURCHASE4) Purchase Price:$89,9895) Option Period: 36 months, beginning September 1, 2012 and ending September 1, 2015.6) Option Consideration: $10.00 All Option Consideration will be credited in full toward the purchase of the property.7) Rent Credit: Buyer/Tenant will be credited $400.00 per month toward the purchase.8) Closing Costs: Purchaser will pay all allowable closing costs.9) Expiration: This offer shall expire on August 9, 2012 at 12:00 midnight.10) Inspection: This offer is contingent upon physical inspection of property and subsequent completion of a formal and signed Residential Lease with Option to Purchase Agreement.MEMORANDUM OF OPTION to cloud titler Tenant/BuyerWith our Tenant/ Buyer we will use the following documents:OPTION TO PURCHASE AGREEMENT© which cannot be assigned.Purchase Price: $93,000Option consideration: @5% $4650.00Rent: $900.00Lease: 12 months, renewable x 3.RESIDENTIAL LEASE AGREEMENT© Unassignable.Your critical analysis of this deal is highly appreciated.

Originally they were trying to help us (supposedly) through the loss/mitigation which is the same guy I've been talkign to, and it was taking so long, I finally called a realtor in hopes to short sale it.

Seems the final decision may be up to HUD

We are looking to buy again soon and although we will likely do VA this time around, I will definitely hone my FHA skills again before making the final financing decision.