Finance Advice

[Cole U.]

Hello BP,

I'm hoping for some friendly advice. I'm looking at a foreclosed SFR in a B to B- area that I am thinking about buying as a rental. The challenge is that it doesn't need any work (seriously, it's spotless), so going the hard money route, renovating, then refinancing with a conventional loan doesn't seem like an option. My wife and I have the cash to throw down for the 20% on a conventional loan, but we would be wiped out after going that route.

Any options that would allow us to move forward without draining our bank account would be ideal.  Help!