Investment Info:

Single-family residence buy & hold investment.

Purchase price: $8,000

Cash invested: $20,000

In 2013, I decided to put much of what I had learned from books into action by purcha...

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

The smaller more nimble banks such as state chartered or regional banks are better able to service you.If the LLC that owns the property is part of a legitimate business, is profitable, then you stand a good chance of securing some kind of funding.

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

If I were a decent renter shopping in that neighborhood, I would choose that brick building over yours every time. 

What I am starting to lean towards is "Preforeclosures" and "Foreclosures," not the in between part  how are you going to find these pre foreclosures ?? 

The other part of this: don't scuff or sand any more than you need to.

You're dealing with two parts of the IRS code.1.

Timing is critical.

Some really put some time into this and considering the various angles.