Michigan law is 30 day notice, Florida may vary but there is rules regarding notices.

It's a pain in the neck, and being a government loan there are a lot of rules and red tape - but if it can give you a huge step up and some equity/cash flow - i'd do it.

Their lender says they can't underwrite the mortgage because there have been multiple title transfers and HUD rules say"no pattern of previous flipping activity for the subject property as evidenced by multiple title transfers within a 12 month time frame".How to other wholesale deals get around this issue?

I am aware I will need to look at local zoning and I am working on that but is there a min/max size as a general rule.

Hello BiggerPockets Community I am from Milwaukee, WI and a lot I read about wholesaling comes from either the East or West coast and I am not 100% sure the same rules apply here in the midwest as I am always told.

While I hate that rule of thumb, there's a kernal of truth behind it.

The quick and dirty 50% rule would say that with $1900 per month coming in, $850 would go out in expenses, leaving $850 for the mortgage.

This is not a rule or law.

Being right will cost you much more and you're never going to convince a guy like that to follow the rules of fairness.If I were you, I'd even go one step further.

There is a possibility of adding a room in the attic as well which would bring in a couple hundred bucks a month.The 50% rule (1700*12*.5)/.08= 127,000.