Make sure you account for holding costs, closing costs, and lee-way (in case of unforeseen work that needs to be done).Also, be careful with condos, FHA restructured their requirements for condos and some associations won't meet the requirements (particularly for non-owner occupied properties).

My concerns are 2 - the house has a galley kitchen and no way to take out walls to expand or restructure the kitchen (typical for the houses of this age in this area) and it has a shared driveway. 

If they want to find another roommate to replace him later, that roommate needs to be screened and added to the lease.HOWEVER, in the event roommate leaves, I would be happen at that time, to re-structure the lease, to leave roommate's name off, and put only the couple's name on, return the security deposit to the three of them, and receive in exchange a security deposit from the two of them under the same terms, PROVIDED that the two of them is willing to sign an affidavit saying whatever damages this roommate might have caused during his stay is to be inherited by the couple and they will be held responsible for all damages discovered at the end of the lease term.Thoughts?

We are looking to restructure the debt into longer term fixed conventional debt, which we are aware this can be done in our individual names.

The loan will transfer to my father eventually, and we are allowed to restructure at that point.

Would first have to close off original two doorways and restructure the hallway (w/ permit(s), of course).So basically for some (re)framing, drywall, paint, and trim, the property value will increase substantially, w/ additional bdrm being officially counted now. 

I've had the plan that someday when my full-time job of 12 years finally re-structures (as they have every couple years) and I finally get caught up in getting laid off, I will know my direction and intelligent use of severance. 

Hi there,I'm looking to get some feedback from people who have put up the money for a rehab while the owner holds the note for the property. In meeting with someone to potentially list their property, I suggested putt...

However, I do understand that putting these things together are a lot of work and I can see why Mike would want to restructure his activities. 

Assuming rent is not extraordinary like +35% income, (casually ask if their employment situation is unchanged from what is on their application) the court will restructure other debt based, at least partially, on whats left after paying for necessities like housing, food, student loans, clothing and transportation for employment.