According to the Home Owners Protection Act of 1998 Summary, "Borrower-Requested Cancellation Based on the Mortgage’s current UPB and the current value, the LTV ratio must be: *75% or less, with at least 2 years, but less than 5 years, having elapsed since the Origination Date of the Mortgage; OR *80% or less, with either:     -At least 5 years having elapsed since the Origination Date of the Mortgage; OR     -No required minimum period having elapsed since the Origination Date of the Mortgage, if substantial improvements to the Mortgaged Premises have increased the market value of the Mortgaged Premises since the Origination Date of the Mortgage"

You DO know the fees must pass through you broker?

Do you have properties in that geographic location.Are you going to visit to look at potential properties or are you looking over the properties you already own.

Getting on ground and visiting the city is key. 

Security deposits here must be held in an escrow account.

You must be willing to stomach the loss and have the time to do it.  

The thing with this is that the home must pass an appraisal, so it can't be too big of a rehab.

@Ryan Wamsat I assume you already PMed @Charlie MacPherson the property address so BP must have let you message him.

This is really good way to find out if they are just in the chain, or that they have actually visited the property. 10.

I can only speak in regards to Minneapolis, but a conversion fee is described by Minneapolis as a type of inspection fee: “When a dwelling is converted to rental property or has not had a license for the past 12 months, it must be inspected for compliance with the Housing Maintenance Code.