It is actually a legal document filled out by the seller and if any known issues exist, or have existed in the past, they must be disclosed to prospective buyers.

I'm not the smartest person when it comes to legal matters/documents. 

Just be careful to offer all acceptable applicants the same options to avoid Fair Housing issues and DOCUMENT everything!

Here is the table of my journey:DayDateStart TimeEnd Time11/28/20215:55 PM6:15 PM21/29/202131/30/20218:00 AM8:15 AM41/31/20213:00 PM3:15 PM52/1/20216:15 PM6:30 PM62/2/20215:50 PM6:20 PMEmailed two loan officers asking if they could give me an idea on the interest rate I can get (heard nothing back)72/3/202182/4/20217:20 PM7:35 PM92/5/202110:20 PM10:35 PM102/6/20217:25 AM7:40 AM112/7/20219:20 PM9:35 PM122/8/20214:20 PM4:35 PM132/9/20217:20 PM7:35 PM142/10/20217:00 PM9:15 PMAttended the Feb StL Real Estate Investor Meetup152/11/202112:25 PM12:40 PMScheduled time with Peter MacKercher at StL Mogul and filled out his questionairre.162/12/2021172/13/20219:10 AM9:25 AM182/14/20216:20 PM6:35 PM192/15/20214:30 PM4:45 PMChatted w/ Peter MacKercher from StL Mogul Real Estate202/16/20214:30 PM4:45 PMReached out to Peter's loan officer and researched Tower Grove Neighborhoods Community Development group regarding their tenant screening process212/17/20217:30 PM7:45 PMFilled out my loan application222/18/20217:05 PM7:20 PMSigned off documents on new umbrella policy for primary home232/19/202112:30 PM12:45 PMProvided Chet more info on goals and investigated the docs he needs242/20/202111:10 AM11:25 AMReviewed pre-approval, reached out to Chet and team with questions and thanks, emailed Peter asking next step and some questions on other things to consider right now252/21/2021262/22/20217:00 PM7:15 PM272/23/20217:20 PM7:35 PMGot back to Tyson with Mogul (agent) and reached out to Eric Brand from Shelter Insurance, researched the type of lawyer I would need for writing a lease (Real Estate lawyer)282/24/20214:45 PM5:00 PMSpoke with Tyson about what I am looking for292/25/20218:15 PM8:30 PM302/26/2021312/27/20217:00 AM7:15 AM322/28/2021333/1/20214:25 PM4:40 PMSpoke with Eric Brand from Shelter Insurance343/2/20215:55 PM6:10 PMUpdated spreadsheet with insurance info from Eric Brand and reached out to Tyson on advice on making low offers353/3/20216:05 PM6:20 PM363/4/20216:55 PM7:10 PM373/5/20217:40 PM7:55 PM383/6/2021393/7/2021403/8/20216:30 PM6:45 PM413/9/20218:35 PM8:50 PM423/10/20217:00 PM8:00 PMAttended the Mar StL Real Estate Investor Meetup433/11/20217:30 PM7:45 PMSent Tyson a list of properties to try and walk through.

The county/city zoning board has said this unit is not an issue and is grandfathered in, but he's worried about the more stringent FHA appraisal/inspection3) Buyer "skin in the game" - doesn't want to be left holding the property again as this has happened to him at least twice on previous land-contract/CFD arrangements4) Ability for buyer to acquire traditional financing at balloon5) Effective total cash to the seller is a primary driverWe submitted an offer that solves all these problems:Property A:Purchase price: 360k using FHA loan, owner-occupiedProperty B:Purchase price: 305k, 0% down, 25 yr amortization, 5 yr balloon, 4% interest rateNote + mortgage arrangement with professional loan servicing/escrowAssuming a 9% annual return in the stock market, this arrangement is equal in total cash to seller (including accounting for inflation,etc).

You have to submit a certificate of correction and possibly affidavits.

We are about to submit our very first offer on a home here in Hawaii (seller's market on steroids). 

I was having a discussion with someone and I was telling them how I recently submitted 40k over list price an on a single family home that was listed at 800k.Long story short, I lost to an all cash offer.

Even if you only buy at market prices, if you house hack one property per year from the day you're eligible to stand alone on a loan document, you'll be a millionaire before age 30.Best of luck!

If an investor PUSHED us to offer it, they'd be waiting so long for us to find a qualified tenant, they'd lose a ton while it was vacant.3) What questions and documentation did you ask for about their PROCESSES before hiring them?