The builders lender was pressuring them and would not give them new loans until these were retired..

@Kate GranahanHi Kate, we make loans on mixed use properties.

There was also a loan grant available from the state of NH for first time home buyers for 3% down payment assistance.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Consider using an FHA loan to secure a 1–4 unit property with just 3.5% down and take advantage of tax benefits by living there for at least two years.

Gradually scale by researching high-growth markets, partnering with experienced investors, and exploring financing options like SBA loans.

Make sure that that person has a lot of experience, and make sure that there is at least 20% - 25% equity over and above the amount that you have lent and in your agreement it states that they can have no other liens or loans on top of yours.

FHA loans didn't contain DOS clauses until 1989, VA loans 1988.  

Conventional loan, 20% down non-owner occupied.

Loan is just over $108k.