Hi Derek,I average roughly 1-1.5 short sale approvals per month and if you have a seller willing to cooperate and let you try to buy the property go for it!

Okay, I spoke with my mortgage broker again (still waiting on the year ends), and she basically told me that as long as the place cash flows and I put down 20%, that I'll likely be approved for anything out there.

Determine what I am willing to pay for the property and get pre-approved. 6.

@Peter Mckernan I have invested in condo rentals and I look for over 51% owner occupied (opens up financing options for you and for future when you sell), prefer FHA approved HOA, always look over the financial statements and compare to other HOAs in the area.

I understand that the vacant lot needs to be determined suitable to build on as well as permitting and design approval for my home via the county and also possible construction loan/financing approval.  

Lender validate loan applications and submit for approval with borrowers loan supporting documents. 3.

Can anyone explain what this means on a listing in Bell County, TX:"Seller may convey with a Quit Claim Deed if VA title approval is not obtained 5 days prior to closing date."

I am a new investor with no prior landlording experience, looking to get pre-approved for a 250K purchase price, with 25% down. 

I have to compare total housing and other obligations to make sure they meet 45-50% debt to income ratios (max)- Do we have enough funds to buy out the spouse and to close this transaction + is their enough funds for reserves as required by the automated approval from fannie mae if anyOnce I've examined the above you're good to go assuming you'll be residing in this residence still post buying your ex-spouse out.

Thanks Nick,The reason I'm stuck on FHA is the lower downpayment and I figured, easier approval of a loan.