Most likely under the contract terms you are liable if you do not apply for and seek financing.

I think they counted PITI as debt, then took 75% of the gross rents and applied it to income.

Alan I would google Ray Alcorn's article on performing due diligence on commercial properties (applies to residential as well) and investigate this deal (and all others) thoroughly.

The bulk REO sales don't apply.

Hoover didn't help much either.Seems "It was the best of times, it was the worst of times" always applies, not everyone agreed with Kennedy, but everyone respected his leadership position.

Focus on learning 1 thing at a time and then applying your knowledge.

Now it is up to you to study >> apply >> study >> apply and so on until you succeed.

When the introductory period ends, and if I have no balance on the card, can I just cancel the card and then apply for the same card again to get a new introductory period?

I live in MS, and there is a Loan called " Home Loan Plus " that is supposedly for MS residents only and that will give you $15,000 on the front end, but it can only be applied to the Purchase of the property ( you can use it towards the downpayment of the property, towards Closing, etc... ) The kicker is, you have to live in the house for 5 years to have that $15,000 be free and clear.

The LLC rules still apply to any Fannie Mae loan, though.