This has to do mainly with the timing of property tax payments for your own home (not for your investment properties) and your charitable donations.

. - near lowest delinquency, late payment, and evictions in the country.  

Do you have enough equity to do a cash out refi and use that cash to put a down payment on another property?

What does my purchase price and down payment need to look like for the bank to provide financing? 

I would highly recommend doing a renovation loan like the 203k or homestyle - you are able to leverage SO MUCH CASH for such a low down payment. 

If the loan was fully funded at closing and since then the loan is in an interest-only payment period, these numbers would equal. 

At this point, instead of continuing to pay the interest loan payments on properties that we will never be able to financially finish since the rehab loans will not cover the actual cost of the rehab, I wanted to know the ramifications of returning the properties to the loan servicer, deed in lieu.

They are not cheap by any means (expect double digit interest rates) but they are available. 

Key Deal Points:Loan Amount: $88,000Lien Position: 1st position Purchase Price: $120,000Appraised Value: $250,000Interest Rate/Return: 11% annual returnTerm: 5-year balloon (meaning the entire principal and interest must be paid at the end of the term)LTV ratio: 35.2%---Licensed Lending company for contractsRMLO package completed on buyersServicing company for payment

Got $16k in 1st time home buyer grants for the down payment & closing costs....$8.5k from Obama who was trying to stop the bleeding on the housing crisis and another $8.5k from the city who was doing the same.