If the property does not get redeemed, you'll have to be prepared to initiate foreclosure and if successful, you'll have to be prepared to pay of the subsequent liens and any fees associated with taking title to the property.If that approach is not attractive, start looking for a partner to step in and help with the finances or to take over for you - be prepared to convince them that the property is worth investing in.

And the place was really beat up.I did my own calculations (using BP calculator and a spreadsheet I had developed from various resources) and figured I could make it work if I put the cash flow back into it for the first two years.We just refinanced and received every penny of our original (and subsequent) investment out of the property.

Food disposal unit in sink promote excessive things down sink with subsequent clogs.

Using VA for subsequent use can sometimes be more costly than what you would pay going conventional.You should start looking up "house hacking" as well as "BRRRR" (Buy, rehab, rent, refinance, repeat.)

and if you go into a B area, you reallly crater. 

Subsequent years can be presented quarterly if visibility becomes difficult after a certain point in time.A loan request also includes qualitative information about the company, its management, and the industry.

@Hampton EdwardsAnother approach to this would be doing a Roth conversion - which would require paying the taxes - but eliminate the required minimum distribution (RMD) issue and allow for subsequent tax free growth.

(Dealing with a tenant/buyer or lending on a consumer side, this is predatory lending and dealing, but not in commercial lending).If there is an issue with subsequent financing, ask the lead lender to allow it, they really can't say no without taking on a lot of management liability causing a company to go bust with a choke hold on their business.

I was just indicating that this is something that should be done by the property management companies if you get a competent one.I used a very large and reputable property management company who I subsequently fired because of their poor performance.

Given the limitations I have around down payment money and debt servicing, it's likely that the first property would have to be a SFH or condo and will need to come somewhat close to cashflowing; We'll need at least 1500sf to live in - hence why I believe that I wouldnt be able to afford a MF - the price would be too high to afford a place that can fit us and another unit and then also purchase a subsequent property; I am not opposed to some moderate rehabbing, but any significant capital devoted to rehabbing would eat into either the downpayment for the next house, or, if part of a loan, add to the interest payments (affecting cash flows); The location wouldnt have to be ideal, as we would move out in a year (assuming I dont lose my job)The second property we would purchase after living in the first property for ~12 months and then live in it for the next 20 years; It could be a MF, but could also be a SFHApproach 2: Purchase one property (- a 2, 3 or 4 family - ?)