All Forum Posts by: Daniel Harrison

FHA buyers would require the house to be livable upon the sale date...which means at least a stove to cook food. So you may ultimately end up stocking the kitchen with appliances anyway.

I would also disclose all properties now.  Lenders know that free and clear properties can be difficult to pick up with just a credit report.  They will pull a report called MERS at the beginning of the process and again at the end to make sure you haven't purchased another property simultaneously.  Better to do aged all the conditions cleared now that the day of closing.

As a mortgage banker for a new home construction lender, we will take a copy of your homeowners insurance declaration page.  It would show that you have no mortgagee and should suffice.  Or as stated above you can order an O. and E., but those can run you up to $150 or more depending on the location of the property.  good luck!

World Peace is ALWAYS good, unless it's Negative World Peace.   Talk amongst yourselves. 

I am not familiar with the rental market in Indiana, but the potential to recoup your down payment in 19 months is attractive to me.  That means you can buy another similar property more and more quickly.  Good luck!

Open a Home Equity Line on the rental with the mortgage already. My local bank goes up to 60% CLTV on an Investment Property. The result is no money out of your pocket to put down on the rental, and you can use your cash flow to pay down the Equity Line.