So, three separate transactions.

Generally speaking, you will need a mid FICO of 620 (circumstantial exceptions made) for to qualify for the My Community program; other issues to be mindful of:- Owner Occupied transactions only- Borrower can not own any other propertiesNeed a 660 mid FICO/Full DOC/50 DTI to go 100% for NOO properties (100% with SIVA needs a mid FICO of 720).

I can't wait to take pics of the finished product.

Secondly, to have an IRA fund a portion and you fund a portion requires a lot of things as an IRA owner may not personally benefit from the IRA investments (prohibited transaction), as such, certain requirements must be followed to do such a thing.Also, there was mention of buying, fixing, then re-selling.

The agent should handle most of the transaction if the property is currently listed.

purchases are $5-10K a house with price (rehab and purch costs) around 10-15K After we rehab them, we want to sell on land contracts for a contract value of 35-45K couple questions: 1. can this transaction qualify for tax credit 2. what should I be concerned with IF tenant flakes on contract, and I sell the cashflow to note type buyer?

They state that you have enough available cash not tied in long term investments in your account to fund the transaction.

Vic3001,I am not familiar with this product, but most cash flow analyzers will not give you an accurate analysis because they don't include all the expenses that you incur.

He said how it seemed like it could be a good deal and seemed interested in giving me a shot at it.I know the Realtor's role in this transaction is to represent the bank and that's where he gets paid.

Might give them a box of cookies, see if they agree to that.Skilled negotiators can get an Eskimo to take a truck full of ice.Understand that any contract only guides the parties to an agreed transaction, if both are agreeable, I've done handshake deals, that may work.