You can only have a Max 10 Fannie Mae loans...so we are looking into our banking options so that we can grow our portfolio further.We just received a loan commitment from a local credit union for a portfolio loan with the following terms.

Just want to check ourselves before we commit to such a large purchase! 

Then again asking about it could raise red flags but if you explain it as a commitment you have to your investor maybe it could carry some weight.

When you purchase owners title insurance, and there are no special exceptions on the title commitment for any prior owner mortgages or liens, you are covered for the things you are worried about. 

Do your due diligence before committing to any contract.Due to low interest rates, Bidding is fierce in entry level homes right now.

I committed myself to writing a blog every day this month about the lessens we learned if you care to read it. 

I would ALWAYS be careful with any lender that requests a commitment fee of any size especially over $100.

If the property will cashflow when you move out, I'd recommend keeping it and, if the value has grown through your elbow grease, refinance out some cash for your first acquisition in Boise.If you're committed to selling in a year, you may want to consider a live-in flip; you'll likely have an easier time selling the end result on the retail market.Either way, if you timeline is only a year, be sure to factor in closing costs on the purchase (usually about 2%) and selling costs on the backend (6-8%).Good luck!

I recommend you speak with someone who's successful there before committing to that idea.

Also, talk to your insurance agent to get an accurate number there before committing to purchase if you haven't already.