If you are worried about out of pocket costs, see if maybe a rehab loan is an option to get everything needed done now and refinance in 3 months when everything is complete.

Yeah my goal is around 30% but its hard to achieve, especially using a hard money loan.

Typically you aren't buying a fixer upper with a conventional loan.

 @Raif Jochim without knowing details of each loan, I would almost always choose the primary home.

If you want to find out how much equity you have to see if that’s an option for you, connect with a real estate agent and ask for a professional equity assessment report (PEAR).Who knows, you may find out you have enough equity to buy your next place outright– and with today’s mortgage rates, not having to take out a home loan is pretty incredible.

This allowed me to get a construction loan to repair the other buildings and repay my investment into the property.

Ideally they did not pay over retail because if they did they could easily lose the money they put into the property if the loan gets called.  

You should speak with a CPA and a tax attorney to be safe.Regarding your thoughts about 1/3 equal splits - sounds good until you check out the cost of getting a DSR rehab loan or borrowing hard money.

For example because New York is a generally more expenisve market, you have larger loan buy downs, bigger dollar appreciation, etc.

I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?