You need the deposit to remain fully intact until move out.

But the book planted a seed in my mind that remained there over the years, and when the time came, it sprouted.Fast forward 7 or 8 years.

I have an apartment loan that is fixed for 7 years and then floats for the remaining 18 years.  

It appears he has extensive experience and knowledge, the only question that remains is if he is willing to put forth his time and energy giving to the community, then receiving rather than the reverse.

People lost entire houses with nothing but the slab remaining.

Romney will appoint a new finance guy and it will remain close to free money for the banks as it is now, the fed can't get any lower.As to confidence as mentioned above, that is an opinion, I'd ask why the DOW is busting a gut through the roof if investors were really hiding....that's not correct, IMO.Don't let political claims cloud your judgment, it will take time to get out of the mess the pubs put us in.

:Also having a general contractor who does the entire thing for a fixed price will save you lots of time and headaches; even though it maybe a bit more expensive but in the long run I think it is well worth it.Keep in mind that rarely does a fixed price remain that price throughout the entire renovation...As the renovation gets underway, the GC may find surprises that were previously unknown and will want to charge for those surprises.

In your example you're buying down by $25K so you would pay tax on that amount but would shelter the remaining $125K of gain.  

As others have mentioned you will need an attorney unless you can work with the original seller and have him come up with a plan quick to pay off the remaining $52,000.

Reason being if one roommate moves out you want the remaining roommate(s) to be able to cover the rent.