The safe route is to save up the money first, but investing does carry risk and everyone has a different level of risk tolerance.

I have asked my kids if they would like my gold or my wisdom.

Maybe carry back a balloon for 5 years?

Killeen is still a great market for rentals and flips, but not the same gold mine it was 10 years ago.

Hi Jason, The first time home-buyer program would apply if your wifes income was able to carry the loan from a debt to income ratio standpoint.

Look at new construction triplex/duplex condo sales in the heights areas, subtract carrying cost over build timeline, materials, labor and construction costs, what their desired profit in heights deals would be and that would leave you with approximate acquisition cost of the lot. 

Mortgage rates are much better versus Helocs due to Heloc being a shorter term and carry higher rates.You should need much you can buy a primary home for 5% down, Vacation home for 10% and investment for 15% and keep in mind if you have PMI the rate will always be lower.

When I asked why, I think I understood them to say they included the depreciation for both years on 2023 and there is a carry forward of losses ($13k).  

😎  Carry on sorry I mentioned it.

Only way your going to pull that off is with a partner or with private money that YOU line up (not a mortgage broker).I have bought houses with the vendor carrying back all of their equity - so it is possible, but I was working with motivated vendors (key word here), and without an agent getting in the way.