Purchase price: $100,000 Cash invested: $6,000 Sale price: $189,700 Purchased townhome with 5 year interest only balloon loan for $100,000. 3.5% interest.

Your best bet is some kind of bridge loan to close efficiently and then refinancing once it has been seasoned to take full advantage of that discount that you are getting. 

Financed with an FHA loan and mortgage being right about $2,000 monthly, included escrow for insurance and homeowners' insurance.

That means you will not be able to sell it to someone using a FHA, Conventional loan etc. 

Even if you do a cash out refi, you still need to pay off the initial loan, and then will not have enough money to pay all cash on the next and so on when prices are at a high premium.   

Since I am now the "bank" or "lender" I have all the rights of that lender to enforce recovery up to the full outstanding balance of the loan.

The state paid about $35,000 down for us and our mortgage was about $820/month ($123k loan amortized over 30 years at 4.5%).

I ultimately decided to leave because once I had to transfer to a university from my local community college to gain the 4 year degree the thought of going into student loan debt didn't sit right with me.

Hello everyone, I’m a current college student and I graduate in December of 2025, and by that time I’ll have 50k saved up.

Also, do the math - does demoing your current house + paying off the current mortgage immediately, then getting a construction loan make sense?