This is why it is best to avoid Quicken loans and online lenders!

Congress limited their scope to federally backed mortgages to avoid challenges on illegality accusing them of regulating interstate commerce.

Interestingly many of the Contractors I know and rehabbers all have the same feeling toward Portsmouth and are trying to avoid the permits department at all cost.

Written buy someone who appears not to understand the process and work behind searching and examining title and the difference between risk avoidance type insurance (title insurance) and risk assumption insurance (auto, home, life). 

I read more & thought more after my post and could likely avoid capital gains all together since I lived in the hole most of the past 5 years and make less than $500k when filling married jointly - this making me eligible for the personal residence exemption.

You can even split that into multiple properties if the cashflow numbers make sense.On the smaller factors side - $300 HOA IMO is down the drain which is one of the reasons I like to avoid Condos.

The goal is to avoid surprises, understand what challenges may be present, and what impact the results of inspections may have on our future operations of the park.Inspections - If all of the above checks out, now it's time to start spending money on paid services.

Perhaps, it is easier and less-expensive to avoid the LLC and use the annual $800 cost plus your CPa and use that money to buy an additional $2 million on your insurance.

Any tips for a rookie, or mistakes to avoid would be huge.

To avoid expensive financing rates, I plan to finance it as a primary residence for a year.