I haven't heard of this before, but I recommend fulfilling all your obligations.FHA are explicitly NOT for investors, and I'm not sure if you could have a second, non-family member on title - especially with a split interest.

Joe you are like my second hero..... tks

You'd be surprised at how many folks have cash on the sidelines that they would rather invest in hard assets with someone experienced like yourself vs. investing in the stock market with people they have never met.I could go on for hours - but as you can see by the responses from other syndicators and promoters on this post, we do not regret doing the heavy lifting to get this part of our business off the ground.Deciding to syndicate is the second best decision I have made in my 20 year career in Real Estate, 2nd only to the decision to sell all my houses and apartments to focus all my efforts on buying only Self Storage Facilities.Keep us posted on your progress...Scott Meyers

The lender MUST approve the land contract or the accellaration clause kicks in.Second: the lender can transfer the mortage to the buyer (assume the mortage), then the seller can take a second note for any balance due the seller (if any) .Bottom line is , if the property is not free and clear at the time of a land contract, red flags everywhere.The State that I live in treats a land contract as if it is a mortgage.

I'm a little confused...are you trying to pick up a second full time job to make more money to invest or are you just talking about quitting your current job to start a new one??

My wife loves the neighborhood, so we may cash out with a second mortgage instead of selling, and get into buy and holds with it as well.

Right now the entire first floor is tile and the stairs and second floor is carpet.

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I already used my FHA loan for my current property.Is it possible to get a second mortgage with less than 20% down?

If they jack you around a second time, that's when you might need to get tough.