Thanks,ALS Amex is notoriously harder to get approved with...1.

As Wayne said above, there are several restrictions that can't be worked around without committing fraud...even a multi-thousand dollar profit wouldn't be be worth the risk of prison or large fines.

OK now here is the $64,000 question: Could a notorious meth house - one that has been in the news frequently over the past few years as a nuisance - be sold?

Tenants are notorious for trying to scare off buyers with all kinds of BS.

Television networks are notoriously guilty of misrepresenting house flipping, and it has no doubt led to some novices getting in over their heads.

And tried and after that sentenced to 125 years in prison or possibly the death penalty :mrgreen:

I presume this was a brokered loan and not a portfolio loan.I'd have to look it up but as I recall a mortgage broker faces up to five years in prison by simply "coaching" a borrower to commit loan fraud on a federally related loan, if indeed this was a federally loan and not a portfolio loan.

to expand on will's comments, you are indirectly responsible for exterior repairs via your HOA dues, and HOA's are notorious for underfunding their reserves (to keep monthly due's artifically low). so when the building needs a new roof there will often be a "special assessment" which is basically a one time HOA fee each owner pays to cover their part of the new roof.

If you structure things right you may be able to utilize your current income and potential rental income in the market to be able to purchase another property depending on how much capital you have to purchase your next property.If you purchase and do not live in the property but claim primary you're committing mortgage fraud which is a min penalty of up to 100,000 and or both 10 years in federal prison.

Milwaukee has some notoriously bad neighborhoods and, unfortunately, a lot of them .