I also did my research and I knew that the prior owner went to jail for mortgage fraud so I was not too concerned about that.There were no restrictions on this purchase contract - it was extremely short (2 pages) compared to our standard state form agreements. 

Most of the time I see a promising one, it doesn't work out because there are restrictions on renting (owners only, or 50+ etc), but I have a brother who is a broker so if another one comes up that makes sense I can jump on it quickly. 

Additionally, in that program it comes with a commitment of rent and income restrictions for 15 years.

Sorry Sandy, your source of funds has no bearing on your status of being "in the business of", and the business activities carried out by any entity are applicable to licensing requirements and other restrictions.

Anyone know the restrictions for marketing a home purchased by HUD on Craigslist (I'm wholesaling it)?

There may be requirements to remove powers of a member or partner, this should be accomplished at notice, restricting signature authority to bind the company or tap any bank account.It may stipulate that a partner or officer may be represented by counsel to in any administrative action taken by other members or a board of directors.A vote may be required by a majority or some higher requirement to remove an officer.

Have I found a community bank you who will lend me up to 75% of market with out other restrictions?

There are explicitly restrictions with "steering" consumers into loans which grant higher compensation for the promoter.  

You could have escalating rates determined at future dates, under restrictions with justifications, the increase would then adjust on a low principal balance and may not make much of an impact on payments really, more of an incentive of the holder to keep it going, it would also increase the note value a bit, but I'd not get near annual adjustments.

Richard Bunch that is one strategy I am going to employ once I've built a good list of the attorneys handling probate in my market but I've located a specific property and can't get the estate rep to respond so just wondering if there is a restriction for the attorney to provide me any information or to put me in contact with them.