Bill, you mention that you can credit the option amount and any amounts over market rent at closing and have it count for the buyer's down payment/equity.

Any other non-conventional loans that you have in your name that are secured by 1-4 unit properties will also be counted when you go in later to get conventional financing on future deals.

Hidden additional taxes through inflated wages that result from over licensing don't get counted.

All of this will count in your DTI calculation and will get documented on your 1003.

Steve, if you say 145, you're probably right, I just counted down from this thread, so is it 144 now?

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In today's reality, it's likely to be a lot longer, but you can't really count on that.

I am in San Diego, and vacancy rates are generally below 5%, and have been for some time, but I still count on 10% vacancy in my analysis of local properties.

So treat the fully occupied thing as a bonus, definately don't count on it.There was one other thing I was looking at incorrectly when I was property hunting back then.

If you want to use a new appraisal, count on waiting a year.