Hello,I bought a bungalow in a middle class neighborhood in Michigan, centrally located and close to a very nice downtown (not detroit!)

TI is like any other insurer, if it's not covered or they can avoid a claim, they generally will.As I mentioned too, lenders won't usually take a SWD from an individual selling with uninsured title. :)

You should title your props in PA entities to avoid double tax.

If I go VA, I know I can avoid paying PMI, which would save me $35 - $50 a monthAnd If I end up going FHA loan, I'm looking at going with TN's downpayment assistance program.Thanks much for any and all comments and opinions.

It's not something to be avoided, or sought out, it's your local market and the local HOA that you have to look at.

If a borrower knows the rate will go up to known fixed rate, say from 6% to 8% and re-amortized say from 180 months to the remaining 144 months, they know the payment will go up and that can motivate them to refinance the loan, so loans can be manipulated somewhat to nudging a borrower in a similar manner as the more demanding balloon requirement.I'm still searching for information on restrictions to amortizations, so far I'm not finding any except that it can't be more than 360, other than the requirement of making the loan affordable.I've done a few loans with the amortization being reduced over time, this avoids usury issues.

@Sabino Gonzalez , I am not an expert in taxes like @Steven Hamilton II , but here are some thoughts.First I believe a subchapter S is the preferred company to do flips in so you can avoid some of the self employment tax.Next have your friend give the money to your company, he will want a written agreement, then after your you sell the property have your company issue him the check for his share and send him a 1099 showing what you paid him.This shows the expense to him for using his money, and is a deduction for you for your cost.

Hello all,

So...as I am researching the topic on PMI, I am coming up with conflicting responses. I am looking at a 3.5% (30 year) owner-occupied FHA loan for a duplex in Dallas.

From what I understand....

I've looked at them (I'm in IL), but have avoided them for the reasons you cite: everyone has a slightly different idea of how to deal with them.

When recording a mortgage it would cost me about $3,900 that is the fee I am looking to avoid.