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Updated about 3 years ago,

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27
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13
Votes
Danette C.
13
Votes |
27
Posts

Suggestions for "adopted" daughter and her first home/rental

Danette C.
Posted

My oldest daughter's best friend (21 y.o.) is researching different types of loans for when it's time to pull the trigger and buy her first place.  So here are a couple of questions for those of you willing to give some suggestions:

Have any of you purchased a deal with FHA loan? If so, what are the pros and cons?

USDA loans only apply to rural areas, correct?  Once again, if you have purchased a home with one, what are the pros and cons?

If she finds a duplex, lives in one side and rents the other side, wouldn't it be in her best interest to purchase it as an LLC?

Again, thank you for your help as I don't want to steer her wrong.

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