Hey @Luke F. I

I am just getting started here in Charleston, SC. I

Just wanted to introduce myself as well as ask a few generalized questions, so here we go.As a network engineer by trade, I'm fed-up with the day-to-day 9-to-5 churn all while not truly enjoying the life in the process.I stumbled upon BP a few months ago while following comments in some FI (Financial Independence) blog posts such as Mr.

It doesn't have to kill a deal but you need to account for it in your cash flow projection so you don't get any nasty surprises.All that said there are great investment opportunities in Cleveland.I'm no lending expert as I stick with cash deals right now but I think you may have trouble with bank financing this type of purchase - you may be better off with a private lender to get you into the property and get it fixed up and once it's rented out Re-Fi to a traditional lender once you can show cash flow.Good luck!

We landed at 75% LTV for this new loan - a traditional 30-yr fixed rate, cash out re-fi.

They may encourage you to re-fi and during the process you can change the names. 

While I dont feel it is fair to the seller to ask them for 100% owner fi (who already posted their property to you at a significant discount), perhaps you could bring several thousand dollars to them at closing and they could carry back the rest.  

I thought that since we've lived in this house for two years that would satisfy the requirement of having to live in your primary residence for 12 months but learned today that that starts over with a new loan (re-fi).

@Eric F.  I

My name is Billy Amberg, originally hailing from the self-proclaimed hottest place on earth, Columbia, SC, I moved to Charlotte, NC with my wife and dog during the summer of 2015.