I’m on the process of purchasing a legal 2-flat in Chicago, with an unfinished basement.  I plan to combine the first and second floor units into one unit for myself, and build out the basement as a rental unit (7.5 c...

Hello folks,I am closing on a Fanny Mae property this week and I understand that they normally come with a deed restriction to prevent selling it for more than 120% of the purchase price in less than 90 days.I just re...

This clause was in a memo sent to me from Litton.

1.) Arm’s Length Clause - “Seller and buyer each represent that the sale is an “arm’s length” transaction and the seller and buyer are unrelated to each ot...

I've flipped some houses in the past, but have never used any creative financing. I have a chance to buy on a lease option, do minor repairs, and sell easily for about 10k profit.

How does this work when I sell the p...

I know that in wholesaling the simplest route is to assign the purchase contract. In addition, my closing attorney said that he can complete a double closing in which the end buyer funds both transactions. If this i...

Hi all, I am looking for some information regarding owner-occupied loans.  
Situation: 
I purchase a property in state A with low-money down owner-occupied conventional.
I decide to move to a new state, state B (be...

I bought a shor-sale house and the agreement is that not to sell it for more than 120% value from day 30 to day 90. I plan to complete the renovation within 60 day, and sell it after 90 days with more than 120% value ...

Hi BP'ersHas anyone ever come across restrictions on short term rentals on a deed? I was getting ready to sign a contract (in Sullivan County, upstate NY) when my lawyer informed me that it had this restriction. This ...

Does the one-year-wait restriction (upon completion of renovation work) apply to homes paid for by cash and NOT financed, or are some deed restrictions applicable to homes sold to potential flippers irregardless of th...

My fantastic Japanese tenant moved out last week. Today my agent put up a for rent sign. Second call was from a neighbor/busybody who said hoa had decided to enforce a ban on rentals. The ban had been part of the...