@James W.If you're purchasing an asset (as a debt buyer) or already own it (as a debt owner), you're legally allowed to pull credit.

This would allow us to further update house, without expenses of going in to FHA procedures.Please let me know what are your thoughts about FHA vs CONVENTIONAL + HELOC.Thank you all.

This allowes them time to shop around and move or decide to stay.

In Oregon, is it common for the homeowner to be allowed to remain living in their property for the 180 day redemption period following a sherrif sale?

Essentially, I think I'd be a good "source" to answer your question.Short answer: "No"... it's likely* not legal for you to do this, and the partner with his Brokers license is putting it at risk by allowing you to act as "manager" for the units.Long answer: The reason I say likely* is...

Then I hear news that Freddie will no longer allow lenders to contribute grants to reach the 3% down payment requirementI am looking for suggestions to overcome the down payment hurdle.  

I discovered BiggerPockets by chance a couple months ago and have been hooked on real estate investing ever since, listening to every podcast I can and devouring real estate books as time allows.

I have found banks that will allow me to put as little as 10% into a deal, but if they are leveraged at 55%, they may go with 5%. 

If you can, do most banks allow you to refinance straight away or is there typically a holding period?

If this is a non- prohibited arrangement and thus allowed, how long does it take to set up the self-direct fund and do I use an attorney, my investment company Merrill Lynch or some other professional?