If you bought something today with 5% down, you will be way ahead of the game two years from now and that PMI cost won't matter.

Turning a garage into a game room will probably pay for itself relatively quick. 

@Andrew ThomasDm me, i can get you a game plan to follow.

Fix & flip in Memphis is definitely a number game with making offers.

has anyone ever raised their skin in the game for a deal? 

The beautiful thing about real estate investing is there are several avenues you can choose from depending on your end game. 

You only need to put a small game plan together to start running the numbers base don zipcode, property type, sale prices, common rents/cash flow.You would be surprised how far $150K can get you to cover a New primary home and 1-2 rental properties back to back. 

Real estate is a long game.

Is that less desirable than a property with 5 bedrooms with walls, but less convertible entertaining space that could be used for movies, gaming,etc?

Obviously we cannot force the borrower to sign so I said let’s foreclose because I think borrower is playing games.