Let's say you borrow $100,000 to pay off your $50,000 IRA loan, $25,000 on credit cards, and keep $25,000 for finishing renovations.

The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.

Purchase price: $240,000 Cash invested: $60,000 I purchased this duplex in distressed condition using owner financing for $240K and secured a $60K hard money loan for renovations.

If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.

Another way to say is that what is the value of the property (today) compared to what is owed on the loan?

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

(Even went beyond the second page of Google.)I have an investor who wants to partner on a deal by providing a loan for the down payment.

If you're purchasing a single family home you can use traditional financing like you probably did on your house or you can do a commercial loan.

The loan would be $1M+.

I realized I hadn't thought about it, but it will likely be working professionals, students, or families.