It's really not nice to deceive or mislead an insured lender, they really don't like that and they have some very big hammers to smash those who think too much and try to mess them over.

The bad part is you will pay private mortgage insurance - basically an additional fee because you don't have 20% down

A good title insurance company will tell you what is needed in order to have marketable (insurable) title.

Taxes are $104/month, insurance approx $150/month.

Property Taxes $135/month, Insurance $80.month, yearly expenses to include sewage pumping $$100 month, mortgage and principal $560 for a total of $875.6.

We will also insist that the tenant carry renters insurance as an added layer of protection.

Spent $16k total and was on the market in 6 weeks.Rented for $1250Expenses are, $100 management, $85 insurance, $110 taxes.

Everything is negotiable, having said that, here is what's customary:Seller pays: Seller's portion of escrow fee, owner's title insurance policy, seller credits to buyer if any, city & county transfer taxes, agreed to repair costs and sales commissions.Buyer pays: Buyer's portion of escrow fee, lender's title insurance policy and lender fees, and down payment of course.That's all I can remember off the top of my head.

It's fairly new, so repairs should be low for a while, no property management fee, and taxes & insurance should run about $1,000-1200/year.

enjoy

http://www.youtube.com/watch?feature=trueview-instream&v=zl0zw1YVZd4