Code compliance?

With a VA loan you cannot buy in a LLC - You can transfer title to the LLC later but it may trigger a due on clause in your loan.

I've been listening to Chris Chico for over 5 months now , but I haven't pulled the trigger in purchasing his system.

Then talked about how they're hiring more than 200K new compliance officer before 2016!

Or, if I do buy it as a "primary", how long would I have to live there before I could resell it...would selling it after the rehab trigger any penalties?

There is no guarantee that you will get the fee and if were based on a closed deal that may even trigger a licensing requirement.

The IRA will trigger UDFI wheras a 401k won't.

Originally posted by @Zach Schwarzmiller: Angel, I have used owner finance documents via NWMLS templates which thus far have worked out fine.I don't believe she is talking about forms, she's talking about compliance and finding someone to originate the deal with forms she already has access to.Does that "NWMLS" have a mortgage originator to underwrite the note and take responsibility for it?

A loan officer registered with a valid NMLS# is the only person authorized to originate such agreements / loans.Am I missing anything important with regard to compliance when offering a rent-to-own solution?

Darla -- to be clear, you can't use your retirement money to "make a living", as the earnings must remain in the account (unless you take an early withdrawal, triggering taxes and the 10% penalty).