See if she can point you in the right direction.

Anywho:FannieMae.com is down right now, so I can't post the guideline directly, but what you're after is the "delayed financing exception."

The other contracts require deposits, pet deposits, and additional pet fees for each month in addition to rent. 

@Greg Raymond If real estate is your passion, you are better off spending time with people who will reinforce and encourage you in the right direction.

You’ll need to show Proof of your ability to buy, and an EM deposit,  before they will look at a purchase contract.For wholesaling, you need to find off market, desperate and/or ignorant sellers.  

I am not a lawyer so my advice is directed to having the water-less tank system installed properly. 

My investment strategy looks something like this 1) Start direct mail campaign / generate website leads 2) wholesale and co-wholesale deals to start.

IE pet fees and deposits or non-refundable anything.  

However, a Fannie Mae and Freddie Mac loan won't like to see large deposits in a personal account. 

@Don IrelandOwning a duplex that you plan to househack is likely up there in complexity when discussing tax returns.When you acquire the property - you will have acquired an investment property in addition to a personal residence.As such - direct expenses related to the investment property and indirect expenses related to the investment property will be deductible when calculating rental income.I agree with Ashish - that you should open up a separate account that relates to expenses paid for the duplex.