If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

2) Your credit score3) Purchase price and down payment amountI would recommend shopping rates with a few local mortgage brokers.

. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

I'm an investor and mortgage broker and have options for loans that go as low as $75,000 and down payments as low as 15%, which makes it easier to stay above $75,000.

Focus on cashflow and growth, earning money for more down payments on more properties.

Get the siblings on board to take payments for 15 years at 6% interest.

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

If you offer more $ for the property than the all cash offers AND you appear to the seller to be highly qualified in the method you are using for sourcing the payment, at some point your offer will be more appealing than the all cash offers.I don't understand why you would consider a 1031 for another property in two years. 

A good tax accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.

I weigh more on making 3x rent and having great rental history of on time payments with no evictions, no lease violations or violent criminal history.