We understand rules of thumb.

@Marc C.you cant avoid CFPB regulations, it's as severe is trying to skirt regulations with the SEC with private lender money marketingMy RMLO recommends that the ability to repay rules from the CFPB are followed with all lease with option arrangementsMy friend Bill Gulley is talking about TIC's, tenants-in-common agreements.

I am also a fan of using cells in my NV Series LLC for everything, and I'm not happy when banks tell me I need a stand alone LLC to get a loan from them, but for my SDIRA I also created a separate stand alone LLC, just in case, because there are no IRS rules on the subject.Jean

Lastly, have you heard of the 50% rule?

I think there needs to be some ground rules regarding our time.

Rules are guidelines usually, anything is possible.

Hi @Tyler Divine, yes there is...1) Provide vendors with a takeoff (you can outsource this) - no two individuals will produce identical takeoffs and if it's a sales rep doing it, cavet emptor.  

My GC and I estimate about 100K in rehab costs, thus would require a purchase price of ~90K to meet the 70% rule.

Question: does anyone know if there are Fannie/Freddie, FHA or VA rules that require a forced air system to be ducted to all parts of the house?

The judge may review the documents and rule there is still an equitable mortgage.