One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

Just in case.Ultimately whatever correlates with your future plans but a solid way to build long term wealth.

The biggest factor will be how long you plan to own the property or when you think you may refinance.

@Heather Bailey they will ask you what style of renting you plan to do.  

I plan to live in it and then rent it out in a year. 

Hello, due to a hiccup on my personal credit history I am having issues getting approved for traditional financing outside of an FHA which I do not plan to use as I am not going to owner occupy.

I was planning on searching here today to see if I can find any meetups in our area.

I am eyeing up a property I want to buy that costs much more than usual so my plan was to use a hard money loan to purchase, and rehab it with my own money, then sell. 

I’m trying to keep things moving, but this $20K requirement is throwing a wrench in my plans.

For me to build I would want to see recent comps of sales for the finished project you are planning.