This is in a town that has a very good Private College - Baylor University.

Many of my customers who are traveling nurses buy condos or townhomes in Florida as vacation homes, then rent them out when they're not in town.This system has proven to be very lucrative, as it allows them to service the mortgage debt and generate a good cash flow.

And as far as legal—an attorney becomes essential once you're ready to finalize terms with either an HML or private lender to make sure everything’s secure.Hope this helps!

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

I suspect build cost in CA are closer to 400 a foot than 200 like many other areas and of course far higher for the custom homes.

If discussing with someone in a forum and you all take it to private messages, that's a different story.

Some private lenders will step in and fund.

If I wasn't able to get the cash together, using a private lender would've been a good option.

(C) As used in this Lease, “Premises” means that certain private dwelling residence situated in ________________________________________ County, Minnesota and having an address of ____________________________________________________________________________________.

II wonder if it would stand up in court that they could force you to use their contractual payment requirements on your own Private property.