Thats my 401K, the insurance encase I ever go completely witless over night and can't ever flip again.I absolutely will get everything finalized by the sharks in suites, but I have found it best to have a very clear path to hand them, rather then ask them to find the path.

Fee simple, or Fee Simple Absolute…is a common law term, and does not cease with a mortgage.There can be a mortgage on the property, BUT, the seller must give the buyer the lienholder information, including the amount owed, payments, and due date etc.

Absolutely.

Bill you are absolutely correct.

I absolutely want to begin building a rental portfolio as a long term strategy once I have created more revenue.

.-- You don't get absolute occupancy rights.

This community is absolutely the best place you can be. 

(As a side note, please recognize that your real expenses are much higher; at the absolute minimum you need to account for capex and vacancy, and really should account for maintenance and property management.)Second, you haven't owned the property long enough for many banks to count the income at all.  

Unfortunately I think you're absolutely correct and it was unfortunately a great learning experience.

Hello Account Closed mentions the headache that can come with renting to undergrads...keep in mind you absolutely can not deny them based on that fact.