You would just have to sign what is called an agent of record letter.

I've just sent my first letter to a potential seller that I found driving for dollars!

I'm no lawyer but it sounds like the tenant has a right to the property for the duration whatever that is, so bear that in mind when you have that conversation or send that letter.

@Andrew B.They mentioned, they sent that as a general letter to all owners. 

Its been a year + a few weeks now so we are ready to get the 4th.So I talk to my broker to get the standard pre-approval letter, and she cant give me a loan for anything, saying that our DTI is 128%.

Seller will will carry the note, no interest, and is asking half the price of other homes in the area.

Make sure he carries E & O insurance and you have a contract with him.

Below are the expenses I am carrying:Expenses:Property Taxes: $1,626 annually ($136/month)Insurance: $714 annually ($59/month)Maintenance and Repairs: $900 annually ($75/month)Capital Expenditures: $960 annually ($80/month)Utilities: $0Advertising/Administration: $300 annually ($26/month)Property Management Fee: 10% of gross income = $1,200 annually ($100/month)Tenant Placement Fee: 50% of first month's rent = $538 annually ($45/month)Turn Reserves (Cleaning): $500 annually ($42/month)BreakdownRental Income $1,075 - 7 % vacancy = $1,000/month ($11,997 annually)Expenses = $561/month ($6,737 annually)Expenses/Gross Income = 59 %For the record, when I called the County Assessor's office, they told me the assessed value is $81,300, and I would be paying 2 % as an investor (number is carried above). 

I didn't really work on the house much from October - February, so again, I carried unnecessary cost on money, dumpster, etc.

The only way to know that is by a letter from the city/county and or a rebuild letter that states the subject (specifically) was grandfathered into current zoning, what was allowed on the property and that it can rebuild if damaged or destroyed.”Circling back to our initial conversation, I can assure you that we will be able to refinance this property, however, the term length and loan product simply depends on the use type at the time of refinance:· If permitted as a triplex (or grandfathered in): we will be able to offer the 30 year rental product.