I do have a loan outstanding that as of now I am paying monthly out of pocket. 

@Anita Morrish the VA land board is an OUTSTANDING option for a land loan. 

The lender may then qualify the borrower with a $0 payment.For deferred loans or loans in forbearance, the lender may calculatea payment equal to 1% of the outstanding student loan balance (even if this amount is lower than the actual fully amortizing payment), ora fully amortizing payment using the documented loan repayment terms.I hope this is helpful. 

One method (“Original Value”) compares the outstanding balance of the account against the original value of the property.

The reality is you live in an outstanding RE market.OOS is more risk and historically has produced lower returns. 

House is selling for 660K with 300K in outstanding loan.Few options:Pay 50K in taxes and put the remaining money in VTSAX (Vanguard fund)Roll the money into 1031crowdfunding.com or kpi1031 or something similar in 3 different properties and get around 5% monthly cash flowPay 50k in taxes and put the remaining money in Norada Promissory note to get 15% monthly cash flow (I am accredited investor)Buy a turnkey property for 660K to 1M – preferably a duplex/fourplex.

Also, the title company is ensuring that their aren't any outstanding liens against the property that will need to be addressed before closing.

We BRRRR in San Diego county with outstanding success.  

You also want to be careful about outstanding rent/damages/utilities when the term does end. 

He has outstanding mortgages on both properties, so I thought about structuring a sub-to deal as I thought that the mortgage being paid would show as income that he doesn't have, while at the same time he's not the one actually making the payment so that he can receive the benefits, but that won't work as it would show that he isn't actually making the payment, but rather somebody else is.