A new rehab guy will not be getting this type of consideration having no experience.What you're wanting is some lender to fund everthing, buy the place for you and then let you walk in with no risk or committment other than your signature, that won't ever happen with a real lender, maybe grandma will do it, but not my grandma...LOLwhat I mentioned above is about the only way for a new investor with no assets or cash to use a HML, if they will even do it.

I also don’t know what kind of trouble I could get into with a residents and the city.Well what are some baby steps I can take before I can really take this into consideration?

Brian Gibbons I am going to have to read through your link about CFO's a few more times but it seems to be about finding a creative way to have consideration in the deal without using cash?

I have never put up more than $10.00 as an option consideration since I started working with lease options back in 1994 so that should tell you that cash is not the motivation for the seller.If you are in the right market talking to the right people you'll have no problem controlling a house without ownership through a sandwich lease option or wholesaling the property using a lease option using $10.00 as the option consideration.

Depending on the type of loan, the payment on the mortgage would be considerable less than the current rent so its very advisable for them to do.

Sounds like a hassle you say, not so, tenant buyers are easy to find and I got to collect the option consideration 4 separate times on the same house.

The act, promises, goods, services and/or money are called “consideration.”

I just recited part of the due on sale issue being any lease greater than three years.....As to the exit plan with a quit claim deed, you do realize that a lender must agree to the acceptance of the deed in lieu of foreclosure and that thier option to do so may include the consideration of the property having been owner occupied vs a rental, as rentals are usually in poorer shape, especially in light of the repairs mentioned.

Would any of you be willing to spend an hour walking me through the key considerations?

Thank you for your consideration of this request ??