Option 1a COULD be ok, but only if you can spend that $20k and add more than $20k in equity prior to sale which is no certainty when you're starting with a rent ready property.

@Kwok Wong it should be as simple as contacting your preferred lender and telling them you have a house you are ready to finance.

If you are doing just buy & hold of rent ready properties without doing any value-add (rehabs), then consider the old adage that you "marry the property but date the rate" meaning you can refinance.

It has been quite a journey and I am ready to network and learn from you and to share any knowledge that may be helpful to any of you as well.  

The subject must be rent ready at closing so building/new construction is not a fit.

Feel free to bounce ideas around here—we've got a supportive community ready to help out.

They are lawsuits ready to happen.Have the neighbors contacted you already?

Low class outfit ... one of my borrower/ clients went into escrow with them last week and  put up the non refundable money getting ready to close and well  the title needs to be probated.. so these guys dont run title until they have your deposit.. will see if and how easy they give my client back his money since it did not close on the closing date and no extension was given or signed..

Have read many books and attended seminars and dabbled, but finally ready to make my first investment. 

It will be a quality, move in ready home for a first time home buyerDid you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?