Reduce expenses.

I know the house needs alot of work, so I was hoping to make a rehab budget and then develop a rehab cost number which I will use to develop a bid to see if I can get the house at a reduced price since it needs work.

Down PaymentTypical Down Payment: 10% is a common down payment for seller financing, though you can set this anywhere between 5% and 20%, depending on the buyer's creditworthiness and how much risk you want to take on.Advantages of a Higher Down Payment: The more a buyer puts down, the more equity they have in the property, which can reduce your risk of default.

Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs. We're doing this for two main reasons: 1) Prevent his da...

Hard money loans are loans based on (mostly) the value of the asset, eliminating or reducing the other criteria used for most mortgage loans of borrower credit, financial condition, and sometimes even cash flow of subject property.  

Reduce Taxes through depreciation (If you don't meet the IRS definition of a real estate professional, it won't improve any W-2 income taxes)2.

I am setting a loan in SC for 6 units that will be using the seller in 2nd. position-this greatly reduced the down payment for my client!

My mortgage is less than $1000 and I get $1500 in rent, when realistically I could get $1600+.If you can manage to put 5% down and get a traditional loan, your PMI and fees will be less than going the FHA route which will reduce your costs.I don't have a ton of properties, but this is what my experience has been.  

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Starting smaller might help you gain confidence and reduce potential stress.In your situation, if you're comfortable hiring a property manager to handle day-to-day operations while you’re working in the oilfields, going for the 4-plex could make more sense, especially with your high income.