. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

A reliable contractor and an exceptional agent can make all the difference when things go wrong.The Outcome:This was a humbling experience, and I still wonder if I could have done anything differently (besides the insurance). 

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

if you need $200K for a project, no one is going to loan you $200K - you need a down payment, holding costs, and you need to know what you're doing or you'll just turn that $200K into $150K.good luck

It’s known for its affordable property prices and steady rental demand, which makes it an attractive option for reliable cash flow.

Since you plan to travel often, focusing on systems and building a reliable team: agent, lender, property manager, and contractor. 

These areas tend to attract more reliable, long-term tenants who are usually more financially stable and take better care of the property.

THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property.

A line of credit won’t commit you to a monthly payment unless you use the money, so you can avoid paying interest when it’s not in use.

No problem with down payment but will need conventional load which is not a problem as I have been pre approved many times just did not find right property.