That Fannie Mae will not sign nor execute the contract until they can verify the EMD.

The caveat is that because you're putting such little down, you're likely to have much higher mortgage payments.Lenders will verify your income and come up with your Debt-to-Income ratio (DTI) as one of the ways to determine if you qualify for the loan.

If you dig up each of those numbers and verify them, you should have a good understanding of how good/bad the deal really is.Have you thought about putting hard numbers to your investments?

I'm having difficulty finding info on the internet to verify that that is true..Any truth in that?

I have verified that they are current students in the college.

We have this on a one page sheet and the buyer signs it.The seller must send an Auth to Release Info to the mtg company so the buyer can verify the house payments are current.The seller must report to the buyer when the mtg payments were made.You can either have the seller e-mail the buyer each month, or use a servicing company or I've had owners create unique logins to their mtg info online and the buyer can check 24/7.There are other small things, such as not withholding a rent credit for a late payment, but that all makes sense.Keep in mind...the law specifically states that ONLY SPECIFIC ITEMS OF THE PROPERTY CODE RELATE TO A LEASE OPTION.Also, the seller must have fee simple title, which is no big deal as that is how we hold title in TX, but you can't (per the law) do a SLO.

After I verify everything I send them the link for the SmartMove and it just sits there.

Also, I would verify those rents.

It only asks for the name of the person or agent in case papers need to be served.Other than that, I don't see anywhere that asks for the info about the LLC members.How does the government know or verify who the members are?

I'm sorry Justin, but I just don't see anything informative about what you've posted, though it does look like a great ad for you, it's basically a list of properties with no descriptions, etc. that can be verified or anything else.Please don't take this the wrong way, I'm just saying you don't give enough information for anyone to get much out of it.