@Luke Hamlin you can buy a second home with 10% down with a Conventional loan.

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.

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.

You aren't required to offer a loan mod prior to foreclosure.

(or paint, or resurface the parking lot, or replace the boiler, or fix the foundations).You can potentially get approved for a loan out of college without work history. 

I can check in with my local bank, but I don't want to waste their time when I'm not yet serious about doing a loan with them.   

(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.

Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

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.

Use a home equity loan (fixed debt) instead of a HELOC (variable equity) and build an additional unit you can rent out in your own backyard.