I would bet the attic is the 3rd br so it's really about 1k- 1200 sq ft overall. 90% of the props in all of Cleveland have converted the attic to make it a 3 br.

In most places a mortgage is going to be less than rent-otherwise landlords would lose money.

You could take them to small claims court, but even if you win, you're unlikely to see the money and will have spent a lot of time dealing with it. 

What the contract does is lock in your rights as a buyer but delays closing until some future time, possibly years or even decades. 

The "failure rate" or "Pass-through rate" is where the loan officer is fighting to get an application to make a paycheck and it taking anything they can get but not putting in the work up front to avoid lost time, lost earnest money, and lost clients for realtors!

Unfortunely, it seems you cannot be any sort of deterrent from others investing into the program, even if means losses to accommate unlicensed jobs. 

Only about half of the eligible voters in the US even bother to vote,  ... 

There have even been discussions here about how to handle deceased tenants that would be best handled by having gotten such personal contact information!

You are looking for a Hard Money loan.

Hey @Raul Tirado - I've worked with developers in Queens to figure out whether or not what you're envisioning is even worth it.