I would get a bridge loan to acquire the property if it needs to be rehabbed and/or closed quickly.

He thought you were looking to be a borrower with your plans investments, not be a lender with your RRSP.I would seek out providers of self-directed RRSP plans in Canada. 

Often, lenders will not act until the differential between current interest rates and the interest rate on the subject loan reaches a certain point.  

Depreciation Benefits via Leverage: While you can't claim depreciation personally on IRA-owned real estate, SDIRAs can use non-recourse loans to purchase property.

Did you try a local CU or bank for a construction to permanent loan?

Each note is reviewed individually and most note buyers will provide quotes once the transaction has closed, recorded, and the first payment made. 

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

@Cody Caswell there's several things to ask about here that might not be answerable in a forum:- Why do you need an FHA loan?

If you’re confident in your ability to find undervalued properties, using the equity in your homes can provide the leverage you need.