Yes, @Cori Leste, this is exactly why condos are a dicey proposition.

I mean they think its a great deal if they buy a 300k prop for 275k.. you see this in Vegas all the time.. when markets get tight you have to dig into HBU and just be much more knowledgable about the whole value proposition not just what will it rent for and can I make a whopping 10% COC return on a rental. 

You need to be very careful and check the development pipeline in the area you are looking to buy and make sure you have some sort of unique selling proposition to get you through any downturn in the economy.To answer your first question yes you can do this on your own with the funds you will have.

Unless your husband has a strong foodservice background, is very talented, knows exactly what he's doing and has a very special unique selling proposition you will have a hard time making any serious money in that business right now.

On a refi the consequences of it falling out for dumb reasons are minimal (just a little $500 appraisal fee), so I'm happy to share the option when someone calls me for a refi and let them make an informed choice as someone who has been through the mortgage process at least once before, but on a purchase the consequences are up to and including an earnest money deposit and losing the entire house.Different lenders have different total value propositions.

I am looking to prepare a business proposition to a private investor (friend who is also invested in real estate).

I have 2 sets of friends who have done this successfully, but it is generally a risky proposition to go into a major purchase with a friend unless you are very sure it will work out and also have a predefined way to get out of it without hating each other if something goes wrong.I'd say you are looking at option 3, but maybe the first 2 options are available to you.

(As an agent there are times I'd pass on this proposition, but I also have to look at how much business have they already done with me and how likely are they to do more business with me in the future.)Next, the question you have about the commission being reduced through the listing agent is not necessarily cut and dry.

, but paying down any high interest debt is going to be a worthwhile proposition. 

@Justin Madison this is a really risky proposition.