Only the borrower or maker or any guarantor signs the note.For a note that requires payments you simply state the payment amount, the date payments are required, the method of applying payments to interest, outstanding assessments (such as late fees) and principal amounts outstanding.

Looking forward to hearing more about the progression of your RE venture!

Currently I am looking to start off wholesaling and progress into every other aspect of the real estate profession. 

The 38k rehab can be release in stages as rehab progresses,I would refi to conventional loan in 3-8 months .

So, in your buy decision, trying to assess ROI, a true cap rate or a valuation of cash flow is pretty fruitless.

They have even raised the assessment by $5000.  

Good luck, I can't wait to hear about your progress!

Good luck with your new ventures and keep us posted on your progress as you move forward.

The loan officer and underwriters were more interested in our credit score, payment history, debt to income ratio, our assets, our tax returns, our job history, and the assessed value of the property we wanted to purchase.I wouldn't be signing any lease/rental agreements on property that I didn't own.

The three are estimated to be sold in the range from 54k-65k (with assessed values of 90k-99k) and two of the three claim to be newly renovated and painted.