I am looking into purchasing a second (vacation) home and would love to hear your thought on the pros and cons of going a conventional 30-year second mortgage vs. using a HELOC or Home Equity Loan on my Primary Residence to purchase the second home outright. 

It's a super affordable real estate market where you can still find deals that hit the 1% rule anywhere from $120-180k for a single family (or $200-250k for a multifamily) purchase price.

Purchase price: $360,000 We bought this stacked duplex, lived in one unit for 2 years and moved on.

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

But after working with the family, we purchased it for $42,000 and got to work.We had some unique challenges, like dealing with one of the heirs who wasn’t very cooperative and required a payoff to sign the paperwork we needed for clear title.

Here in Florida there are some opportunities to purchase a brand new home, cash flow, and minimize your capital expenditures for quite a while.

I would highly recommend finding a lender that does 10% of purchase price down because it will ultimately be less expensive for you.

Quote from @Dennis McNeely: In a sandwich lease option, the investor exercises their option with the property owner to purchase the property when the tenant-buyer indicates they're ready to exercise their option and purchases the property.

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

Purchase price: $110,000 Cash invested: $30,000 Hobby Farm On 10 acres2300 sq ft house with 8 out buildings - Large Barn, Animal/hog barn, Mid-size machine shed (2) 25' x 35' / 30' x 50', Large Machine shed 60' x 60', Grainery barn, Entertainment Barn, 3 car garage What made you interested in investing in this type of deal?