Generally banks do not participate in non-banking activities (like residential leasing)... but I am not a bank examiner.

According to the GOV website here currently it appears NC allows buyer rebates. http://www.justice.gov/atr/public/real_estate/rebates-details.html Never have heard of Larry Loftis.

Not that you can't find a good deal in the MLS but the profit margin for a wholesaler will be much smaller.Second, realtors are a possessive lot that viciously guard their real estate market against "non-licensed professionals."

I haven't heard of this before, but I recommend fulfilling all your obligations.FHA are explicitly NOT for investors, and I'm not sure if you could have a second, non-family member on title - especially with a split interest.

Now if this site is "legit" and is pulling all of it's information from MLS, $99 a month sounds like a good deal for non-realtor access to the MLS.

It has taken me a full year to complete the interior renovation, but after the appraisal that we just got back we have increased the value over 200K.Looking to gain as much knowledge as possible before diving into the non-owner occupied world.SK

They prefer carpet or hardwood in the bedrooms.You could possibly tile the upstairs bath but make sure to use non-skid tiles with the grain on top to help prevent slip and falls.If they wear down the carpet just use a cheap top carpet with a good pad underneath and it will FEEL more expensive on the feet to the tenant.

The way you could get around the gift issue would be to use the parents as a non occupying co-borrower and as a result the down payment would not be considered gift funds.

Furthermore, I am waiting 2 months after passing to send out letters.I have searched older forums but didn't find much info on this subject (non-probate inheritance leads).

Hey Lawrence,As it relates to traditional financing...As far as I know a NOO (Non Owner Occ) investment property is going to require 20%-25% down depending on the lender.You could however:#1 Get a partner on the next property (ie their borrowing ability + your cash)or#2 Live in your current duplex for at least 1 full year then I believe you can get FHA lending on the next property if you intend to move into that as your primary residence.