The money generated could pay for both loans, and even cash flow.Italian BuraccuracyI thought the United States is slow and has poor processes set, but here is absolutely worse.

If you love property management and want to start a business keep looking into it.Otherwise keep buying income producing properties to generate wealth.

Even if it does, there's closing costs to consider.As I said, I have no cash myself, so I'm asking how I can deal with generating cash for closing costs (and a down payment) if it comes to it.The house costs $139000.

I mean I think about it a lot now that we are closing in on 70.. but hey 70 is the new 50 :) And different cultures handle this far differently than others.. this is why you see some new builds catering to multi generational floor plans..

So my plan is to house hack for few months and then move out so that it can generate some cash flow..

There will also be many homeowners who have had the properties in the family through generations and own free and clear but now still need to obtain a construction loan to rebuild. 

I completely agree that flips must be completed fast to keep the cash mobile so it can generate yet more cash.

But maybe your tenant reaching out and mentioning that they're going to be forced to file a police report for fraud could generate some traction...obviously the real objective here is to just get the seller to call you back...

Generating equity is often second to that.

Buildium streamlines the process by generating screening reports for us.