Then deduct some closing costs and possible repairs.

Keep your repair receipts to justify mark up on home.read this...Seller Seasoning:Seasoning <90> 90 days but < 12 months, a second appraisal may be required if the re-sale price is 5% or greater than the lowest sales price of the property within the past 12 months.Property flipping is a practice where recently acquired property is re-sold for a considerable profit with an artificially inflated value, and is ineligible for FHAAlso attatched is guidelines for FHA loans Hope this helps

This law most commonly applies to credit repair companies; however, it is written to include any assistance or advice to a consumer in the "obtain[ing of] a loan or other extension of credit."

Get a list of repairs necessary to make the spaces livable, find the rents and see where these take you.

We are making an offer on a lender owned property that will need 15-20k in repairs.

Besides, the lender won't do the refi if the new loan drops the debt service ratio (DSCR) below their requirements.For instance you locate a building and during your due diligence you see the potential to increase rents and decrease expenses by making some repairs.

(Although at times I'm somewhat beyond repair :lol:).Thanks so much!

Let's say that you could get a guaranteed $1,000 a month rent on a property (now remember this question is totally hypothetical) and you were magically guaranteed the best renters, no vacancies, no repairs needed, minimum maintenance--in other words your dream come true rental and obviously something you would never plan on happening--ever.

If you are paying all cash pay 70% of the value minus repairs.

This is not to say that an atttorney could not investigate and track down the owner, etc, but it would take many, many hours at $300-$400 per hour which will add up to thousands of dollars for the party wanting to find out the owner of a property held in a land trust.As far as getting "ratted out", their is a process/procedure to choosing your Trustee, and even if the trustee was looking to "screw you", there are many safeguards in place to prevent that.