Hey everyone. So I was wondering if it would be possible to purchase a vacant lot with a loan from a mortgage company/bank, or would this type of purchase have to be all cash?

Or all three?

This doesn't mean all areas or all properties are a great investment, but as a whole, the state has a lot of fantastic opportunities.

Until I finally spoke to a loan officer that understood what was happening.The other problem with using a HELOC as a portion or all of your down payment is lenders don't like it. 

Again, I would do some upgrades and rent out a room or two for enough to cover most, or all, of the mortgage.

However a true vacant fixer upper will allow you to do the brrrr method and hopefully get most or all of your money back at refinance.

Do the private investor invest the money for the down payment, get back on the upside, cash flow or all of these? 

You win some (meaning you get most or all of your cash back in the refi), and you lose some (meaning you may end up with some cash tied up in the house)....but it should be a relatively small amount if you do it right. 

Only look locally or all around the state?

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion