If you've got bad credit and no money, you probably aren't going to get 100% financing from any bank.

Welcome aboard shovel; I was with you all the way through the post, agreeing with the bad FNMA rules, until I read the next to last sentence; And by the way.

As Mike said, it does not matter if the tenants are section 8 or standard, you can have the good and bad in both.

I'm not saying your deal is a bad one, but if you are going to be finishing construction there should be a significant profit margin.

While you're waiting to find a lease-option "buyer" who has bad credit, yet a big pile of cash, you are losing rent.

I've seen numerous examples where various folks try to make a bad deal look better by throwing in long term appreciation.

We would be out a few months rent which would be very bad for us.

She referred me to some very solid people (she was good at picking people), and her pictures showed me things like: rooms that were sized as to be hard to fit normal furniture in (very bad in a rental).

The current condition isn't bad, just a little outdated.

However, when things go bad and you need to enforce it, then it is a contract because that sounds more intimidating.