although not impossible but then again I am going for 2 to 5 million dollar guidance lines so its a little different in my personal situation.So for those of you looking to borrow money on very low value rural assets thats the situation.. and the majority of those loans are done between private ( truly Private) lenders IE people you know personally that are not in the lending bizz per se.

For the price listed I know I’d have to do a cash purchase, but would need to borrow for any reno that needs to be done.

(Not legal advice; just relaying my own experiences & understandings)When a borrower files a Ch 7 or Ch 13 bankruptcy, there is an automatic stay against all creditors from collecting on the filer's debts.

Based on the higher quality of borrowers, the current shortage in housing and the Feds reluctance to rase interest rates too fast I don't think the housing correction many are calling for will come.

We had to borrow from a 401k loan and from my parents in order to come up with the down payment.

This way, the money is in a sense liquid because you can borrow against it if a deal pops up unexpectedly.

I read this morning that the Fed signals bond buying taper coming "soon" and interest rates rising between now and 2024.Does anyone have any thoughts on if this will effect the housing market, mortgages & borrowing?

The property class is 2-11 which indicates 2 -6 unit apartment buildings.I'm looking to use an FHA loan so the zoning will impact how much money I am able to borrow. 

Yes, you should be able to borrow against the appraised value of $250k.

Debt is always acquired for business, just look at how much Sam Walton had to borrow to open up Walmarts before he had to take his company public.