I think you lost me in all of your paragraphs.What are the following numbers:In Place Rent:Existing Debt Service:Existing Peripherals (Taxes, Insurance, Association,Maintenance, Utilities):Property Tax Rate:Also... when you say you "put a ton of money into it"...

Freddie: "...we expect the volume of our REO acquisitions will likely remain elevated, in part due to the resumption earlier in the year of foreclosure activity by servicers following the suspensions over concerns about documentation practices.

In AZ and TX also you'll see the following.

To follow up, I reluctantly agreed to a 65/35 split.

The owner is trying to structure a lease-option with the following terms. 1.)

-Steven the Tax GuySteven, Please refer to the following excerpt from IRS Pub 523.

The problem I see for you is that you posted the following on a public Internet forum:How does flipping a FHA home after 90days work?

Also, in order to PM someone, you first need to click on the "Follow" button below their avatar (picture).

Is a good way to structure the partnership to have a general partner's right of first refusal, followed by a dutch auction?

Cash out refinances where the subject property was purchased within 6 months (measured from HUD-1 date to the disbursement date of the new mortgage) when no financing was obtained for the purchase are allowed under the following parameters:o The new loan amount must not be more than the actual documented amount of the borrower’s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points – subject to the maximum LTV/CLTV/HCLTV for cash out transactions.