Here are the details:Assumable loan balance: $750k at 2.75%List price: $950kDownpayment needed: $200k to cover the differenceMy initial plan to make this deal work included a few options:Getting a loan for the $200k difference.Bringing in a partner.Asking for seller financing.However, when I discussed these options with my agent, I hit a few roadblocks:Second Mortgage: My agent said no bank would provide a second position loan for the $200k.Seller Financing: He mentioned that 99% of sellers would reject this, though we're asking anyway.Agent's Advice: He suggested I just get a conventional loan and put 5% down for the full $950k, but I feel this defeats the purpose of leveraging the assumable loan.Given these challenges, I’m trying to figure out the best way to raise the $200k.

Despite initially planning for renovations, severe foundation issues led us to pivot quickly.

The HVAC system failed unexpectedly, adding unforeseen costs.Lessons Learned:Thorough Inspections: Always include major systems in the initial scope.Contingency Budget: Set aside funds for unexpected repairs.Flexibility: Be ready to adapt plans quickly.These lessons highlighted the importance of thorough planning and flexibility in Partner Driven's real estate investments.

The Closing Disclosure fees cannot be higher than an initial Loan Estimate, otherwise this will trigger a cost to cure and the lender must take the hit. 

What I am looking for is finding a good deal of a house that I can possibly repair, and also learn as I go through this initial work.

I'm trying to break in to the word of mouth circle, but it's been tougher than I initially thought it would be. 

I will refer to this to help me stay big-picture focused initially. 

What about doing a bridge loan for the initial purchase?

Grandiose claims that we initially read on the company website and then had repeated to us by Kirt Bassi, the client relationship manager, over the phone.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.