Credit union is the best source of financing if you can secure it.She's asking you for a business plan basicly: monthly projection of your payments received from rent and your payments on bills like taxes, insurances, property manager etc.Let's say, you want to buy a house for $70K, update it for $30K and you think your rent will be $2K/month.Then you make a payment plan for each month what is going to be paid: January+July - taxes $1020 each; March - insurance $870, every month water/sewer $50 (if you don't plan on Tenants to pay)When you make it an Excel table, there will be each month left cash flow, which you then add with mortgage payments.That's one of the main projected financials: your cash flow.Income projected as an income&loss statement: $24,000 income from rent                   $2040 - taxes                   $870 - insurance                   $600 - water/sewer                    $2400 - PM                     $4,000 - interest on mortgage- depreciation - maintenance- other expensesWhen you talk to the bank,  they should see positive numbers, not just that you know you'll pay.

However I would like to take some risk off the table as the housing prices have moved beyond their all time high, but I don't want to pay the tax man yet.

Find a good wholesaler in your area and offer to work for knowledge or a cut of deals you bring to the table. 

From the little experience that I have, they'll ask you a few questions crunch some numbers and will be able to give you the info you need. i think they may also give you a pre-approval letter if you have a deal on the table.

Obviously, I bring the realtor chops to the table. 

I am not a wholesaler nor have I ever done any wholesale deals on either side of the table, but I have purchased off market. 

I can't sell it because when I factor in closing costs, commissions, etc I'll have to bring at least 10K to the table.  

Funds are released when this happens...and they are released to the closing table...not directly to the REI.2 - Once the Investment has been closed on, and income from it established, that income comes in that same escrow account, and is released in this order -    a - Pay the debt service on the Investment (step #1)   b - Pay the monthly payment to the original lender   c - Pay the rest of the cash flow to the REI

Twenty days later, I was at the closing table, as we purchased it with all cash.The same tenants that had made the property inaccessible were the ones we inherited.

Is doing an owner occupy loan like FHA off the table for you?