@Brett Riemensnider You can claim expenses related to your rental property, even with a homestead loan, by allocating costs based on the 75% rental usage.

unless its a VA loan, you cannot.

Quote from @Hector Espinosa: Hi,I'm negotiating a seller financing deal which may be my first one and would like to ask for some advise about and what are advantages and disadvantages about seller financing deals.These are the seller financing terms:House Price: $330,000.00 USD​ (Sellers still owe ~$301,000 USD)Down Payment: 5% = $16,500 USD​Loan Amount: $313, 500​ (Monthly payments will be amortized as a 30 years loan​)Interest Rate: 4.531%Balloon Loan Term: 5 YearsMonthly Payment (P&I): $1,594.24​Closing Costs:  ~$3300 ​Zip Code: 74105Observations:       * HVAC requires an update but pending to inspection (replacing with a new one will cost ~$10,000 - $15,000 USD )     * Expected Rent Income: $2,000- $2,300 but this is has been really complicated to get a good estimate because is all over the place in the different sites I have checked

Also you can call your local Escrow  officer and ask who she/he see's doing private loans in your market.. 

But you could maybe assume the loan and get a secondary loan for the rest.

Once you evict them and are ready to rehab, you have various loan options to cover the renovations costs and pull out equity.4.

Start by researching areas that fit your goals, understanding financing options like FHA loans, and using the 1% Rule to evaluate deals.

Hire a contractor or GC with clear terms for execution and completion.Secure financing early, whether through cash, private lenders, or hard money loans, ensuring reserves are included for unexpected expenses.

Using an insurance and bank loan product, putting $500,000 each year for 10 years so your family gets $2mm tax free each year forever.  

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.