What type of property and what type of financing are you getting?

Short term, leaving financing in place during rehab prior to resale — great strategy with limited risk to either party. 

That's not even the tip of the iceberg; it's so far away.

First of all it's very rare a seller gets a buyer's EMD deposit for buyer's financing falling thru.

Id go right into looking at local credit unions and small community banks for HELOCs (lines of credit) so you can have a lower blended rate and draw/payback as you please.For the 3F - Since this is free and clear, you would only be looking at 1st position options here in the world of financing.

How did you finance this deal?

How did you finance this deal?

I am hoping to make connections to learn more about this market, which neighborhoods to focus on, as well as learn some pro tips as I begin my investing journey.To note, I have begun the loan pre-approval process and have a dedicated agent that is eager to find me a great property. 

Also, in order to get financing the lender wouldn’t allow SCI to dramatically overpay or they wouldn’t meet the debt service requirements.

In either case use the contract to create some built in relief - a longer than usual closing period or due diligence period, or finance contingency.