Can I finance real estate by doing this?

[Joshua Hollandsworth]

I have an idea, because financing 1-2 properties per year isn't cutting it. Can I do this?

Here is a scenario:

Rental property sale price- $50k

Cash required to finance- $15k (Down payment, appraisal, inspections, closing, minor repairs)

Rent- $900/mo

Take out a personal loan for $10k DP.

Let personal loan season for 2 months (Or 6 depending on lender)

PITI W&S- $700 including personal loan.

I would make no money for 7 years, but I could buy more property.

Basically, I would pay all out of pocket cost, but finance down payment. I would love your input. Thank you!