The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

Plus you can't typically get conventional financing because they want to finance to a person, not an entity.

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

In the next 100 days, I do think we take a little breather, or as the finance folks like to say, a correction.

I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

The other tip I would say is really get a good relationship going with a realtor in the area if you do not have one to give you the exact data you are looking for to be successful.

I can help with the financing portion, but I would love to help connect you with an outstanding relator in the area.

@joel, FHA will finance non owner occ??

To thrive in real estate investing, you must maintain a firm grip on your finances.

Welcome to the community and be ready for a huge amount of information at your finger tips.