If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

Also, after a year, the mortgage hasn't been paid down by much, especially if it's a 30 year mortgage.The only challenge you may run into is if you purchased it using a low or no money down mortgage option like FHA or VA lending.

I understand the safest option is to have a lawyer review the lease, but I figured I'd try to answer my beginner questions here and not waste the lawyers time (and my money) on the "for dummies" explanation.Thank you!

All together around 80k worth of money invested.

Hi @Tyler Bolton I hope I can help clarify given I see a lot of muddled points of view on these matters online.  

You can find online which larger institutions are buying in a specific area and try and reach out to them.

It was an easy way to scale up with no money out of pocket.

Of course you can never have control of the money and you must have your QI in parcel before your sale completes. . 

Flipping houses is a great way to create huge profits, raise private money and create marketing content around your remodels (the reason HGTV is HGTV).

Quote from @Enrique Toledo: I came across a really good seller financing deal and I would like to purchase it as my first deal but I don’t have enough money for the down payment.can I use a lender of some sort to give me money for the down payment?