Update for those interested in this subject - I met with the president of one of my local banks, she reviewed my financial statement and said there would be no problem with the investor providing the additional cash for the down payment as long as I showed it on my financial statement as a liability (secured or unsecured).

If that goes well, then I would call the house/neighborhood president and find out when the next meeting is and attend the meeting.  

@Gino Barbaro  one of my mentor's and business partners was president of STaufer foods and Beringer wines  ( both Nestle companies)one thing he would always tell me is you have to bring young blood up to replace you.. you cannot move up the ladder if you can't replace yourself and move up.But he was also hands on and never rose above the customer's....

It is not real good timing but it might help to know if the newly elected President will effect anything.  

Yes-O-Yes, I got that $8,000 T-shirt when the president of the HOA wanted to sell his own condo and replace everything to new in order to do it. lol 

@Brian Degener  can't say for certain.. however I would suspect this is impossible. the big banks sell their bad paper in bulk.. and gerneally to hedge fund players for them to sell an individual mortgage so someone like us I just don't think would happen.I have had luck with Small commercial banks.. and local credit unions. .IE where you can personally talk to a decision maker  ( who is usually the VP or president fo the bank or the head credit officer)

Congress is trying to push law that would put our finances under the control of a board whose members are nominated by the President. 

All 3 properties are located in indiana.Purchase price is 175000Local bank wants 43750 down, and 1035/mo p/iappraisal is 1900closing 220010/12 units generate 3700/molast year utilities,insurance, maintenance,vacancy,cap ex were 16200Ive met with the vice president of the bank, twice now and keeps telling me this is a really good deal.i have good credit and about 15000 cash, 1 rental that gets 550, and low dtiIm looking to get creative with the down payment.

Michael Thompson I already spoke with the president of the HOA and there is no problem with renting the place out.

If it's a local community bank you could ask the bank president what their policy is on purchasing REO.