Always good for everyone to hear of these types of situations and to insure that when evaluating the deals, to understand a good reserve/LOC is required for just such instances. 

I was trying to consider some factors that may come into play - from what I understand you can put as little as ~3.5% down under an FHA loan - will it be more beneficial for me to put "more skin in the game" with the largest possible down payment I can make (say, closer to 10-15%)?

I understand the loan is in process and I dont "own" this property yet.

This happens a lot in Southern California and Im trying to understand the dynamics.Broker originally represents seller, and ends up representing both buyer and seller,Broker finds a buyer, but broker is only getting %2 commission, would it be reasonable to also represent the buyer.

If she went to Assisted Living - I can help you but it's only KS Specific - each state is different but I'm guessing some of the guidelines carry across states in regards to how she will pay for the ALF and eligibility for Medicaid and Home and Community Based Services (which is a medicaid program that would help pay for ALF)Anyways in KS - in for someone to qualify for HCBS/Medicaid to help pay for their care either in the  home or assisted living - you need to have less than $2k in assets - and consistently less than $2k in the bank - there is also something called a 5 year lookback period - I do not 100% understand how the lookback period works but will soon enough.So - as far as the assets are concerned - if your friends mother has the house and any savings there is no way the govt will be paying for most of her stay in ALF - and I also think it would be difficult to house her in an ALF facility for $3k per month - can be done but tough - Due to no estate planning the family needs to decide on what they are going to do - they will either need to sell the house now and just pay her money down at the private pay rate in a facility until she "runs out of money" then apply for Medicaid and go from there or see if the strategy of renting the house with her present income will be enough to cover the facility she's staying at.Individually the systems are simple however there are so many moving parts to Medicaid HCBS I've discovered in my time as owner of a facility I can 100% understand the families frustrations. 

So, if you live in a house for 6 months, fix it up, and sell it- it's my understanding that we will have to pay the short-term capital gain tax.

You want to get farther along in your plan before buying anything, wholesaling is not easy, make sure you have a buyers list first and understand exactly what buyers are looking for before you make any offers. 

I understand I will have to sacrifice a lot to get this done.

Its a very sophisticated structure, so just make sure you know and understand the mechanics of it.

Hi all, I understand that every leader is different but are there options for extending a commercial loan?