Fully occupied, attached below are the numbers.A few things will be different here:1) Purchase price will be $2 million2) Interest will be most likely 5% instead of 6% 3) Hoping to get it with 25% down instead of 30%So CAP should be higher, as well as cash on cash returnSee numbers below

Jimmy you may be thinking of the deed restrictions that some Fannie/Freddie/HUD houses can have attached.

Its an attached twin sfh 3 bed 2.5 bath approx. 1450 sq feet.

If they get a judgment, they can attach anything he owns.

Often the owners have some sort of emotional attachment to the property and don't want to lose it to taxes.

I remember it looking a great deal like the Texas panhandle.

If you are doing a lease option assignment.....Have the home seller attach their listing agreement to an addendum or a broker's affidavit, give the agent one month's rent today and their commission when the home sells (closes). 

He doesn't have the same emotional attachment to hte property as a normal buyer would.

The notes secured by owner occupied property have many strings attached, laws, regulations, etc. most far reaching with severe penalties for non compliance.  

I really, really hate when it's an agent we've never heard of, with an email like jonsmith34384@aol, and they send over the offer... they don't call, they don't have a subject line, nothing in the body of the message and it's just an attachment.