They've picked up a lot of foreclosure plaintiff legal work here recently, in the ever fluid foreclosure mill musical chairs.

This means that your friend would seller-finance the property to you subject to the existing mortgage which would remain in his name and he'd continue to pay (often through escrow).Lots of caveats with wraps including the "due on sale" clause, so make sure you know what you're doing, but it is an option allowing you to get into the property and refi it based on appraisal (6 mo -1 year) or when the LTV reaches 70% or whatever banks are offering at that time.Even with a relatively small equity position, to be able to get into an investment property for closing costs, and if your friend would extend this instrument for 5-10+ years, it could be a really nice deal.Good luck!

4155.1 4.B.2.b FHA Requirement for Establishing Owner Occupancy At least one borrower must occupy the property and sign the security instrument and the mortgage note in order for the property to be considered owner-occupied.

But only so many people live in the area, so I'm not sure who's going to buy all of those houses when the music stops playing.

It has been so instrumental in our investing journey, and in my growth as a real estate agent.

A lot of music, hanging out, etc... it isn’t somewhere I see myself five years down the line.

Good live music at Harlow's too.I do a mix of in-town and country, but I'm picky about the in-town neighborhoods because I don't have much difficulty with rent collection and I'd like to keep it that way.I see plenty of rehabs each year, it's just a matter of finding the ones where the numbers work as long-term rentals. 

I live on the GulfCoast so this is music to my clients ears.

Got my instrument rating back in July.

See here for more info:  Latest Coronavirus InformationMany music and performance venues in the city now require all guests who wish to attend performances to provide a valid, complete Covid-19 vaccination card OR proof of a negative Covid-19 test (performed within the previous 72 hours) prior to entry into the venue, until further notice.