If your PM is not licensed and/ or using this agreement that might be a larger concern.

Purchase Agreement online?

Even with a non condo HOA, would expect there to be a paid assessment letter at the closing at a minimum.   

I would first speak to the tenants after I am sure I am the new owner and ask them if they currently have a lease agreement.

From my research it does not meet the minimum 680 for an investment loan.

Even some real estate professionals get confused over the difference between an addendum and an amendment.An addendum is something that is added to the purchase agreement (the contract) before it becomes officially valid (known as “ratification”).If you were performing a short sale, for instance, we would provide the buyer with a short sale addendum before we accept their offer.

I will have an attorney write up the agreement but I'm curious as to other BP members experiences.David

Then the work will begin.The HomeStyle loan is ONLY for Single Family Homes.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Minimum: $ 5,000 (below this on an exception basis only)Maximum: Limited to 50% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesRenovation Term: The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.

I need to go back to the drawing board to figure out where I can generate a minimum down payment for an owner-occupy property.

I have an assignment agreement that I can share with you but we would have to be connected ( and I would want you to complete your BP profile before I send it over ).Good luck !!