So in regards to who holds responsibility for the appropriate evaluation of the FICO, I can say that I think that belongs to the lender.The premise of my argument is based on the credit score being the objective parameter and all risk based decisions revolving around it being what should change.

You have to get reasonably proficient pretty quickly to be effective at reviewing numerous of properties.

After I contacted the property manager with the "facts" regarding the pump, they replied that yes, the pump was old, but our tenants jammed some objects into the spa outlets and that caused the pump to fail altogether.

Any objections?

I am local, and will give you an objective estimate of valuation.

DaveIf you sort through the older discussions, you will find numerous threads looking for that ever elusive "reliable broker".

I don’t know how prevalent this is with them or if other banks are all of a sudden objecting as well.

I know I shouldn't have signed, but I assumed everything was fine because I've bought numerous reo's with no problems?

I felt terrible for this guy, but he blamed no one but himself for the mess he was in.I have one real estate investor on my list that has over 200 SFH plus numerous multi-million dollar commercial buldings.

You are taking all the risk and while your primary objective is to "flip " this property plan as if it will be buy and hold.investigate the income , see 2% 50% rule.