* House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

A HYSA is a type of savings account that offers higher interest compared to traditional savings accounts!

For a traditional Heloc at most small banks/CU's, the rate will be variable and will be WSJ Prime + a spread that represents the borrower's credit risk.

Because they aren't traditional tenants in the sense with a 1 year lease and to determine fit for the house, I like to start everyone on 2-4 month leases and see how they perform.

For traditional loans that rely on personal income and DTI (Conv, govt), there is no requirement that the properties be profitable.

Quote from @Stevie Kim: Quote from @Christian Rodriguez: Quote from @Melissa Ralston: Quote from @Alex McArthur: Hey All! 

If the houses are in decent shape and could get traditional financing do not sell seller finance.

This may provide you with lower down payment options and more favorable terms.No Documentation Loans:While traditional no documentation loans are rare, exploring private lenders or hard money lenders might offer alternative financing options.

Creative financing: Explore seller financing or subject-to deals for your next property, which often require less upfront cash and bypass traditional lending limits.You’re on the right track thinking long-term—house hacking and leveraging your duplex are great moves.

We syndicated 75%, plus costs of the purchase price and financed the balance with a traditional loan.We shopped around for weeks to find the perfect loan with the best rates and terms.