Which type of loan should I get?

[Trevor Grogitsky]

Looking into buying my first house, it's listed at 40,000 with an estimated value of 96,000. I don't know if a conventional loan, an FHA, or some other loan option might be best for me here, I have even debating asking my grandparents for the whole asking price. I would love to know what you all would suggest, or even what my best three options might be.

[Jon Reed]

BRRRR (with cash from grandma or somewhere) that property then if you really can do it for $40K + $2K in reno costs then refi it out at $76.8K.

However.... What do you plan on doing to the home for $2,000 and taking 2-3 months? That is a SUPER small budget... Just painting a small 900 sq/ft home will cost $400 in materials alone.