The attached article is somewhat dated but it focuses on the importance of coaching for agents but it is equally applicable to investors.

Ralph, thanks for responding.To my knowledge there is no applicable penalty for using the downpayment assistance since (to your correct assumption in point #2) I would not be selling this for a profit ... most likely.

(they may have you income if you have filled out a loan application recently)So, if you open additional lines of credit, even though you don't borrow, it is assumed that you can and will use it and based on your income, your debt to income ratio will increase and could cause your score to go down!

If I were to write my own contract, I would begin by describing both parties with their applicable relationships, Optionor, Seller and Optionee and Buyer.....You can also use two contracts and have an effective date on the sale contract subject to the option and dated accordingly.

State law dictates the disposal of such property as well as federal law in applicable cases.You may find out what the disposition might be at the DA's office or the defense attorney if they will speak to you about it.Doesn't mean the property will be for sale.

To sum up, this is probably not an opportunity worth pursuing.I had lot's of "Katrina victims" submitting applications for my rental properties....very well-heeled victims...I'll end my participation in this thread by saying I'm not a fan of government welfare or socialism...

We went to our first one today and the broker began asking us about if we had done our mortgage applications, et cetera.

One last tip is investigate the hell out of your tenant applicants.

No reason, makes no business sense, may drive some applicant away even, but I am curious about this stuff.Should I do it?...

What documentations do you usually require during the application process?