Thanks for a substantial info, the guidelines will help to those who are planning to purchase in a real estate investment. Most important read the contract make sure the contract is binding.It isn't impossible to get mortgages these days. You would think so – from all the bellyaching and general doom and gloom, so you'd think the only loans anyone can get would be payday loans, but banks and home loans lenders were at it as soon as they could. (Duh – they wanted to not go out of business.) If you actually follow the real estate industry, or financial news they are lending again, prices are at an all time low, and all you really need is a good credit score and paperwork that makes you look like a good candidate, and you're in like Flint.