I’m under contract with my latest flip, the proceeds of which will pay off the heloc that I use to buy and rehab properties.

Groovy @Stephanie Medina good luck and keep us posted on your progress.These sorts of things are problems that no one really things about when buying a property and it is something that should be in their mind.

I have not heard of one of those, but am gearing up to buy my second house and could possibly use some sort of loan program like that!  

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up. 

A bit concerning if the market takes a turn but overall and overtime we will be in a good postion.PS - Since 2003, Dean & DeWitt Property Management has helped investors buy, sell, and manage investment properties in the St.

Once you do get buy something, be sure to look at a cost segregation study for the property.  

Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.

You are better of buying duplex deals on the west in areas like Brooklyn, Tremont, Cudell, etc...

Who's gonna buy them?

We are considering stepping in and trying to buy the place, but looking for some guidance on STR and what kind of money this place can bring in.