And since nothing was ever started or agreed to , I sent a letter of rejection to the contractor.Public Adjuster his the ceiling and tried to use emotional tactics to make me feel bad.

Seattle, WashingtonJust wondering who out there are already investing in these markets or plan to? I

Im a looking to invest mostly in multi-family deals, but also open to good SFR deals to. I

I am not a patient person, so sitting back and learning and not "doing" in the way I am accustomed to is a challenge!

The guy I was talking to is a big name guy with a great reputation, but I just had to double check this because it seemed so insane that any savvy buyer would agree to this with 100k on the line. 

@Jacob Ramos, I assume the 5-20 loan they were referring to is a 20-year amortization with a 5-year rate reset?

@Craig Cude sorry I didn't catch this until now but what you are referring to is the "WARRANTABLE" requirement that Fannie/Freddie loans require. 

As for where they would move to, I would anticipate that they would move to an area that would allow more financial flexibility where cost of living is lower. 

Another good podcast to listen to is Target Market Insights by John CasmonThe early episodes really dive into how to do market research to determine the specific niche you will be focusing on.

I have also done it where I paid the sellers mortgage payment and give the seller the difference every month.On sub-to I have taken over the mortgage, not assumed, and make the payments on the sellers mortgage and the seller got a little lump sum at closing.