Again, often times this requires a large down payment when you win to be held in escrow as things go to title.

So you pay for it with a credit card and when the bill comes you make the payment.

If your goal is to simply take over a property that has a VA loan, you just start making the payments without bothering the lender. 

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

If you decide to keep your house, you can do an IRRRL after you have made at least 7 payments on your new mortgage.

You want to buy real estate with no savings, which even if you can scrape together a 10-20% down payment, means you will have no cushion to fall back on when the inevitable surprise expense happens. 

It will be very difficult to cash flow in Austin using traditional LTR methods unless you put down a huge down payment.

Investor’s deposit will be used to make interest only payment for construction loans.

If the prospects look financially shaky or sketchy, I ask for the name of a co-signer - and collect payment for a background check on them.Verbally, I also ask when they are interested in taking occupancy, and I tell them the application will be made part of the lease agreement - that I can evict them if they've lied in their application.

Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)