I have a friend/neighbor that wants to sell me his house below market value so he can move back into an apartment and travel.

Purchase price: $120,000 Cash invested: $150,000 Dilapidated house.

You are free to build whatever you want, sell the house once is finished, and the lien-holder (original seller) is paid off through title when the new house sells.

House hacking is a strong option if you're comfortable managing tenants, as it allows you to build equity while reducing housing costs.

This october the tenant left without warning and house went vacant.

You mentioned student housing - What schools are they near? 

If you're house-hacking, you can put down as little as 5% (or even 3.5% for an FHA loan).

We have been working in the affordable housing space for some time, and this allowed us to partner with the local community and provide a housing solution they need as their city continues to expand with new jobs they are successfully bringing to town.

People buy a house because the house fits their needs, financing is icing on the cake.

This house is in a great area that is growing and has experienced solid appreciation.