The likelihood of this happening is slim to none, but it is still good to be safe.

First, I am always looking for a money making idea, and second I earn enough from investing to justify the expense of continuing my education.

Regardless, hunting has nothing to do with the Second Ammendment.

david - thanks - I understand your answer - its just that we found out about the charge off when we started to negotiate with the second.

I will miss my second ammendment but I'm hopeful I get my fourth ammendment back (dare to dream).

If a buyer is using an FHA loan, there is a 3 month prohibited flipping time and within 6 months a second appraisal is required.

I second that.

They keep coming back with more hang ups, like “subject property value has increased more than 5% in less than 90 days and requires a detailed breakdown of all improvements with the associated costs and may require a second full appraisal.†Does anyone have any thought or ideas on this?

I didn't want to waste my time if there was a second mtg or tax lien etc.

You could use a HELOC to help with the down payment for investment properties or finance them entirely, depending upon your available equity.Or, if this is your first home, you could use an 80/20 loan where the second is a HELOC.