Finding a deal that works now may not in 6 months to a few years.

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

The point is to work for knowledge instead of the $11k price. 

But, there are other strategies that can counter balance at least one of the disadvantages.  

I would invest in the West, as it has worked for the last 170 years, but not in liberal states that are tax hells. 

A hybrid approach could also work—perhaps using a HELOC for reserves while saving the stock portfolio and 401k loan as backup options for future opportunities.

I work full time at a decent job, but have quickly learned that I needed to make some changes in my families life by securing our financial future. 

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

What would be my best approach, I assume find a private lender and work out some deal with them.All questions and answers will help thank you.Normally the lender for the reverse mortgage will start a foreclosure.

I have switched from BRRRR to just buy & hold and let the market do the work for me.