Can you lend in Northern Nevada backed by Fannie Mae WITHOUT overlays under the new 2017 student loan rules and projected income via the 75% rules WITHOUT any landlord experience i.e.

Are there any books that describe in detail how to become the middle man and set up some rules (e.g. the selling price) even if in person dialogue between both persons (potential buyer, agent) are between them only?

Just to be clear, you are asking if you should (a) walk away with $20,000 or (b) take a multi-year 100 point hit to your credit and potentially be sued personally for any outstanding debts that aren’t extinguished by the foreclosure auction (depending on the rules in your jurisdiction)?

@Gordon Starr There are no comps supporting that price, in that condition, in that location.

There are also exceptions to the rule as well which one needs to consult their tax pro on.

With only one tennat supporting your property the risk is much too high.

They said these were their internal rules and I got confirmation from multiple people in the bank.

One of these benchmarks for Buy and Hold Investments is the 2% Rule.

The support has been wonderful and reassuring !!

Hello to you all BP community!! It feels great to be back after several months. I was just here about 8 months ago looking for advise about stepping up and investing in the greatest country of United States of America...