I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

The seller purchased the property to do a favor for someone and the person died.

I used bank/credit union mortgages for 80% to 97% of purchase prices. 

Originally when they were known as FlipOS, they would split up the interest payments,so I would pay the remaining amount for the month the house was purchased and then the remaining balance on the sale of the home to them.  

There’s usually not more than one investor with interest in any parcel so there’s is absolutely no incentive for the investor to pay a “wholesaler’s fee” in this scenario.In the scenario where the land is ready for development, and the economic conditions make development a profitable activity, the land owner has already been approached by the developer or multiple parties with offers to purchase.  

If you're going the live in flip route - one great option would be to go with a low money down owner occupied loan to fund your next purchase.

Are you purchasing an investment property or 2nd home?   

Hey James, I haven’t purchased land in Davis Park myself, but I do have clients currently flipping a home not too far and there's a lot of new construction happening in the area.

Purchase price: $615,000 Cash invested: $630,000 Sale price: $1,500,000 New Construction

I wonder if building condos that are more affordable for people to purchase could be good.