Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.

Quote from @Matt Wan: Can I purchase a property using a traditional mortgage without being physically present for any part of the process?

Just curious, what did you end up purchasing after and why?

For this report I used an FHA loan for example, so 3.5% of the purchase price.

Before seasoning period ends, I want to sell to my younger brother who purchases with conventional mortgage.Is there anything wrong with this idea?  

It's a one time purchase,  not ongoing monthly or yearly.

You may also want to consider purchasing multi-unit properties and live in one of the units.

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

Purchase Price: $215,0002.

It's only dead if you are spending too much on your purchase.