(I had one lady claim that she did a lease purchase about 20 years ago and she couldn't get financing due to her other mortgage still being in place)I'm not sure if I answered correctly...I said that it depends on the lender that your broker goes with and I said it shouldn't really impact your ability to get a new loan, because you can say that your old house (the one under agreement with me) is an investment property and under lease.

Providing input for you on renting vs buying (investing) at this point doesn't help much as it really depends on your budget and short/long term goals. 

(State depending, I live in NY where CC and Fees are up to 10%)

Account Closed It depends on your comfort level.

@Peter DangThis can depend a few factors, the first of which is whether the payment was actually late.

My guess is part of the basement is questionable, guess it depends on what was considered living space like others mentioned.

It depends on your system and on how many fire extinguishers you need to tag or replace.

Depending on what sort of HVAC repair you need in 2 years, it could easily wipe out all your cash flow.

It will definitely be worth it depending on how much you plan on using it though.

@Michael Stanley There are a lot of good rental areas in Kansas City depending on your criteria.