(To be perfectly honest, I, too, had held that incorrect view until I thought about this a bit more.)I agree that renting is typically cheaper than owning from an initial cash-flow perspective.

The house was on of the prefab kind, and i know some here just look at it from a cash flow perspective, but I wouldntt want to own that house.

But from an asset-protection perspective, the potential judgment creditor will take your voting stock and your non-voting stock.

But in reality they are totally different animals.30+ day versions of Trans Funding may look the same on the surface but from a risk perspective, they are very different for a lender.

The main article I found seemed to have circular references, but it did do a decent job of highlighting the litmus tests from the author's perspective.

Then you have a separate Lease Agreement that contains all the lease information.The information about the option fee would go in the P&S Agreement, and the information about the monthly escrow payment would go as part of the lease agreement.Any other stipulations specific to the deal would go as stipulations (or as an addendum) to one of those contracts.I don't know of any brokers that will allow principals to use their own contracts...which makes sense from a legal perspective for the brokers.

And if you have weekly meetings with him, he probably considers you a good client and would probably be happy to continue providing service at a discounted rate.Just my perspective...

I have no agenda except to squash bad information so that newbies don't get in trouble or at the very least, understand an issue from a perspective that is difficult for any member here to match in several areas.

Any lender that enters into a contract and then attempts to tell you that you may not obatin a loan (unless so stipulated originally) is totally wrong and simply tell them that you will be closing with cash to them in escrow.This topic really interests me (for the reasons above), and has never been clear to me from a legal perspective.

I'm sure there will be others here (like Greg) who will give you some different perspectives.