I understand that you need to be creative, however, either the water co or the mortgage lender could foreclose when they see fresh blood in the deal.

I won't go into all the details (want to keep my blood pressure down) but it was a total screw-up on their part.

My blood starts to boil just thinking about them.

In any case RE is in my blood to stay.

Problem is most banks/credit unions often won't tell you if the deal is too rich for their blood.

Letting their lives and relationships impact yours is just blood pressure you don't need.

My last property I acquired took almost 3 months of counters.ARV = 115KRehab = 7KCost = 20KProfit = 17250 (15% Min)MPP= 115K-7K-20K-17250=70750Listing Price = 92K, 240 DOMOct 1st Offer 52K cash, rejected 92K counterOct 7th Offer 55K cash, rejected 88K counterNov 1st Listing Price Reduction to 82KNov 1st Offer 55K cash, rejected 79K counterNov 14th Offer 57K cash, rejected 75K counterDec 1st Listing Price Reduction to 72K(I smell BLOOD)Dec 14th Offer 59K cash, close by 12/21.AcceptedI was able to go far below my MPP based on the DOM, pattern of price drops, and the end of the year that was approaching (plus stubbornness).As you go through more of these you'll learn the banks pattern for reductions.

I remind them that it's not "work" if it's also your hobby and in your blood lines.

You can always get a judgment for this, but it is hard to get blood from a turnip.Higher deposits will indemnify you more, but it will also make you less competitive in the market.

After some research, a longstanding close relationship with a non-blood relative can still qualify for the Kiddie Condo Loan, which shouldn't be a problem proving with one of the investors who is also willing to cosign.