Juat be aware that your e&o insurance will likely not cover you for transactions to which you are a principal.

As others have said, 25% down, closing costs and depending on the bank, they may require 3, 6, 9 or 12 months worth of principal and interest in liquid funds.

Always act as a principal.

If we agreed to say 100K down @ 5% for 30 years and paid 40K in interest per year and 15K of principal.

Ideally I would like to use the profit to pay off some of my principal on current primary residence mortgage and use the rest for investing in a townhome that I can rent out...Thank you for your inputs!

Most investors here look to have the rent cover the mortgage and some.While the principal on the mortgage is not an expense, the interest, property taxes and insurance are deductible expenses.

Over two years, I've put $20,000 in equity into the house via paying down the principal (no improvements).

Otherwise keep your current mortgage but pay as much extra on your principal so that you can get it paid off much sooner than 26 years Once your wife is able to work again it will be more doable to make even larger payments towards your mortgage to get it paid off sooner.

The law's on BPO's vary by state and some only allow a broker/agent to do them in the chance of getting a listing versus actual payment.Also the broker/agent unless a principal owner should review their IC ( independent contractor) agreement with the brokerage.

That will be in the commercial space, where you can find a key principal who can get you qualified by his Networth and liquidity.