Pretty much the same here with the CFBP, politicians tried to block it at every turn and not fund it, I'd say the financial industry is accepting the bitter pill and in return they get some protections and new benefits.There are billions of dollars in seller financed transactions, much of it now must go through servicers and at servicing rates that only a bandit would charge.

I sent a welcome letter to both and let them know about the change of ownership and that the lease they signed with the previous owner was still under effect.

If there's more cost effective options I'd love it if you could point me in the right direction.

My former brother-in-law is an attorney who closes about half of the transactions in Lauderdale County and does quite a bit of business in Tipton also so I could check with him if you need further assistance.

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

In other states, these are not yet considered to be credit transactions and would be minimally regulated - if at all.

Ahh I think I got what you're trying to say it is different how rental income is calculated when the subject property is owner occupied or non owner occupied, explanation below.To clarify:For rental income on a Non owner occupied property (which I believe this is)right 800 income - 800 liability is $0 to make the borrower qualify for and you divided it by 0 because he has no other income so the ratios are 0/0 if gross rent was 1066.67.The 800 Income after being discounted by 25% is netted against the 800 PITIA = 0 effect plus or minus to the borrowers scenario.For rental income on a primary residence:What your implying is how rental income is calculated if the subject property is a primary residence then yes it would go as you had mentioned because the guidelines do not allow the borrower to net the income against the monthly obligation so income would go in the income category and PITIA would go into the expense category similar to what you mentioned 800 / 800 = 100 DTI (debt to income ratio).

IMO, she reneged on her responsibility to ensure collection of all funds for the transaction.

My name is Joe, I am a former real estate agent looking to take on the other side of the transaction in investing.

Buying is definitely more cost effective, but building will allow you to get exactly what you want.