That will determine if you could sell it and use the money to buy a single family home or would need to take out a mortgage. 

I'm a mortgage broker, so need a wholesale lender. 

I am bullish on the FHA 203k and home-style renovation loans that allow you to leverage the cost of your renovation as part of your mortgage, which is just an insane deal, in my opinion.Do you have a specific area where you want to purchase?

I know that I can either save the money(which I have via cash and line of credit), I can refinance the property with the bank for all or a portion of the amount I owe the seller, or I can get private money to take on a note and pay back the seller.My goal is to get private money.

Yup and its a joke when you have these proclamations from those running for pres that they are going to magically accelerate construction.. they can do it if they want to pay 100% of it.. but if they expect the private sector that has to work through local zoning etc.. that aint happening and you cant force people to sell the land cheaper than they think its worth or can get on the open market just because we need starter housing.

I put 20% down using personal and private lending.How did you add value to the deal?

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

For example, a private hot tub or pool can command a premium in most markets, which directly impacts ROI.Cost vs.

This is a conventional loan where they also cover your PMI (private mortgage insurance).

@Rennell Goudeau Hi Rennell, send me a private message and we can connect.