We are about to receive the approval letter on both and I had a funding question.  

In my area there are 2 new subdivision under construction.  Developer says we can put a refundable deposit down.  Is it possible to profit this way?  Any laws that would prohibit this activity?  The town is in major g...

Section 8 is great but expect to wait months for them to approve you.  

Talk to the title co. about doing a straight assignment, not adding them (which would require seller approval) to the contract.

They all need minor tlc, nothing major.My bank approved me for the loan amount.

LolTo expound: you DEFINITELY don't have to wait 2 years....I graduated with a biology degree and immediately got a job at best buy (obviously not in my field). 30 days later, I had a pre-approval letter and was making offers.

(See the JOBS Act of 2012, the part of which we're looking at was effective in September, 2013; the crowdfunding aspect is still waiting final rule approval by the SEC)  Jon was correct when he said you pool money, you sell securities and have all the duties and obligations that entails.  

There are a lot of Experienced Rehabbers that will gladly pay good points and high interest rate for HML for a lender that knows how to get deals closed and can be honest on their ability to fund a deal.I've heard Horror Stories where HML in Chicago have come back to the Borrower and asked them to cross collateralize on a deal 2 days before closing...it was the HML being greedy...and nothing is wrong with it, but when you approve a deal, you shouldn't come back with crazy conditions 2 days before closing...Best advice to John is also to consider that is the type of market you are dealing with in regards to HML too...if you don't know what you're doing a HML can cause you to lose your deal by offering "bait and switch" terms...Good Luck!

I saw the "HOA approval" requirement on most of the MLS listings when I was actively looking in St.

Nothing wrong with contacting the seller's agent, but they might want to see your approval letter from the lender if you are financing.Joe Gore