I've had a ton on my mind lately and I forgot the details of our initial conversation in the weeks since it took place.

This makes clear, and total sense!

Another lender says I can only have 10 mortgages properties total but said they would look into the 20 mortgages property plan..

Here's something from Fannie's website:Gross building area, which is the total finished area (including any interior common areas, such as stairways and hallways) of the improvements based on exterior measurements, is the most common comparison for two-family to four-family properties.

Look at the total value of the property per the tax assessment and see that they break it out via house and land.

That works out to 14% total, if you have one vacancy a year.

I totally agree with Jon, cut your losses and move on.What do you accomplish by trying to be difficult or collect more money?

It has been leased for 3 years, we paid less than what it was worth and it has appreciated well so it's not a total loss.

And let the factor of time and total number of properties push your returns through the roof.Thats my philosophy anyway.

Are the option money and renter's credit merely deducted from the total price of the home, in paper format or is the money returned to apply as a down payment?