i agree, when in doubt. don't do it. when i see its too tight, i stay away, because in this business everything will not go perfect. thanks 

These loans are NOT sold off as MBS, but are instead held on the balance sheet of the originating bank.I am not a banker, so my explanation may not be picture perfect, but that is a rough idea of how that world operates.As @Chris Martin mentions, the GSE underwriting looks at ALL mortgages you are involved with of any significance, so you could potentially choose to do a couple more Fannie deals before going ahead with the portfolio route, but you can't do it the other way around.  

I haven't done everything perfect and have made mistakes but I would much rather learn from those lessons early and grow. 

A tanked loan costs them more in reserved funds that they can no longer lend against.

This is done in institutional lending every day, It is perfectly legal and banks and private lenders do it thousands of times every month across the USA.  

We put water,sewer,and trash into the lease to make sure it is paid and not under the tenants control.So we will have base rent plus these utilities listed in the rent for a total rent price.Fulton county is one of the few counties in Georgia where a water lien SURVIVES foreclosure.No way to get rid of it except through the local council person with legislation or negotiating a payoff of the lien.With our apartment units the benefit is we get the bill so we can moniter water usage.If the bill is really large you can use a water leak adjustment form with the Fulton county water authority.Depending on the age of your property pay special attention to leaky faucets and old toilets leaking at the wax seal,the return line,and or the tank into the bowl.If you have plumbing leaks anywhere it will drive the water bill up.If you have an outside water spigot get it capped off or removed.Tenants are notorious for using water outside and driving the bill up.You better get a hold of this lien issue now or it will get worse.

The forums are a perfect place to ask questions like this, and you'll usually receive lots of useful feedback.  

Pouring environmentally-safe anti-freeze down the drains and in toilet bowls and tanks can keep water remaining in the P-traps from freezing as well.I do want to commend you for having your neighbors check on the property. 

Market still holding at 150  a foot for 2 story and about 180 for ranchers... competition is Lennar  but I think we can beat them on quality of finish's and our lots are perfectly level theres are sloping. 

Now, if your goal is to buy one or few properties a year, this site is perfect for you and you'll learn also from your mistakes, right?