If you are running numbers, you run them for when you live there and when you leave, but in order to be able to use equity to buy so quickly, you would need to buy in a heavily appreciating area and if that is the case you will be up against competition that is not using FHA.

We had to get into the house quick and now, we don't like it and want to get another house.My thoughts are we should downsize a bit, maybe even get a new construction in a nice neighborhood for closer to $2500 a month. 

As a quick example, if the value of something (house, stock, asset…) goes down 33%, it will have to rise 50% just to get back to where it was.

Hey all BiggerPockets 🖐️Getting started in real estate investing, especially in the realm of land flipping, is something I am very excited about.I'm eager to put my money and effort into it and turn this into my business and possibly make it my main income source.Would love any recommendations on finding a mentor to guide me through the land flipping process.Thanks all!

BiggerPockets' Bootcamps bring you flexibility and tailored learning opportunities to supercharge your real estate investment journey.And now, for the first time ever, we're excited to offer TWO distinct experiences: Interactive Bootcamps and a new, Self-Guided Bootcamp option.

Low point of entry, easy repair list, and a quick sale How did you find this deal and how did you negotiate it?

Are you in this to risk it all and make a quick buck or you are in this for the long haul. 

there is only a few options to cure said default..1. pay off the loan in cash.. 2. refinance it quickly before it hits the sellers credit and they are very upset.3.

Add all this up, and one would be quick to see it's not worth it and its a waste of money.Sample contract:https://www.ahs.com/contentassets/8ba0119cd29145d1a2cedce007...Looks like a great deal (sarcasm).

They will build more wealth, more quickly over time.