The mortgage company gets paid off first, then in a traditional sale, the rest minus agent fees and utilities and closing costs goes to the seller.

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.

Obviously this is California spec building and not the traditional RE stuff I come to this website to read about :)I should not have said same as main house.

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.

Unlike traditional banks, which focus heavily on personal credit and income, portfolio lenders prioritize the cash flow of your property.

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

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

I already have one traditional LTR with a traditionally-qualified tenant.

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.

     * 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?