Below 600 so the only loan I can get is an FHA loan on my existing house (which is paid for).

Which redemption periods exist and how long they are depends on the state.

They are disclosing its existence because it is a known but I imagine if you purchase as is you take care of abatement.

When a seller carries a note on a property, and there is an existing mortgage the parties have entered into a transaction referred to as "wrapping" the existing mortgage.

Truth is, GREAT deals exist all the time.

Getting a tenant/buyer will take somewhat longer.First, you're going to need to know any state laws and regulations regarding lease options.

Do you not want any governmental regulation or programs?

Also, what does the city say about any existing code violations?

I know this answer I have provided will probably makes whatever "BS Smell" you are smelling a bit stronger, but whether I posted my deals or not, you or anyone else's skeptism of this program would have likely still existed and it would have been a waste of my valuable time.

That means you have to qualify for both the existing one and the new one.If you actually get your current one rented, and can show a tenant has been in there for a while (90+ days, I've heard), lenders will acknowledge its a rental.When considering rentals, they will take 75% of the rent, less the taxes and insurance, and compare that to the P&I payment.