If tenants are in the home upon cancellation the agreement will be extended as long as the tenants are in the home.

It's quite unlikely you won't have rent during rehab and maybe for an extended period after rehab.

With an option to extend at prime + .50% for another five years if there has been no monetary or technical default of the loan.Fee: .50% origination feeRelease Provision: If any property is sold the remaining properties must equal a 70% LTV ratio, of the loan.Appraisal fee to be paid by the borrower of all the properties.Legal Fees paid by the borrower along with title insurance and associated fees.Borrower will open up a commercial account for all of the rents to be deposited into, and has agreed to have the payment auto debit out of the account on a monthly basis.

After the 3rd missed closing I chose not to sign another addendum to extend the original contract and had enough of being strung along by a crook.Several times (by email) I requested to terminate the contract with our agent and he said "it couldn't be terminated" and he's entitled to his commission on the deal no matter what.

welcome aboardyes there is a lot of information out thereif you would like to generate some cash flo you have to be willing to take risksnot big risks but risks that will enable you to get a deal done w no money or low money downyour in TX that means there is huge opportunities to be hadmy suggestion is to go out and start looking at properties get a feel for the lay of the land so to speaknext find you a FSBO and start the negotiation process find out if the seller can do little money down or no money down with cash out at closingthis is where the creative process is fine tuneddepending on the amount of equity that is in the property you can negotiate a deal or the circumstance that the seller is in to get a deal done, you know family problems, job loss, over extended on creditthe only way your going to find out the circumstance is to be willing to talk to themthe best way to locate these properties is pick a section of town that is a good neighborhood and find you a FSBO, believe me someone will sell to youenjoy

The 2nd picture shows the concrete all the way from the left of the house over to the right, extending all the way to the right of the house.

Barry - that is why I'm looking into these areas also, I would rather not try to borrow any money, or at least not any more than my bank will extend me as a small personal line of credit for some repairs on the home. 

Most flips take longer than 3 months to complete and market, but if you're late, no worries, just extend for an additional 10% for 3 months.  

People continue to move here from outside of the state, unemployment rate is great, and they are extending public transportation routes.

@Hannah WilkinsonI personally would prefer a local attorney whose office I could go into in the event I need an extended face-to-face meeting.