You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.

Lessons learned?

I'm not sure if that's a function of the shear number of supplied units (over saturation) or a function of the slowing economy or a bit of both.  

I’ve learned the hard way that a little miscommunication can lead to big headaches.

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

I have deals of all kinds, right now on my last three deals for some weird reason one come from wholesaler, the second from MLS and the third knocking a door.Having a partner in looking for deals is critical so you can brainstorm and make sure that is indeed a good deal.

The main thing is making sure your investments produce a return that outweighs the cost of the borrowed money.A full cash-out refinance could work down the line, but with rates where they are, you’d be trading a 6.25% ARM for something likely higher, now that it is not an owner-occupied property, which may not be worth it unless you really need the capital to scale.

Be sure to factor in property management costs, repairs, and potential vacancy periods.

Cover around 65% of mortgage Lessons learned?

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.