@Reese Thompson Thank you!

I'm considering doing some direct mail marketing in search of seller finance and possibly wholesale opportunities, though I'm not interested in being one of the naughty wholesalers that the gray beards always hate on :P I've also considered pulling from my small nest egg to get started (HELOC or 401k loan), or to reach out to family for a loan, but I don't really like the idea of borrowing for a down payment to borrow. 

Hi @Brian ZaugI own in Newburgh, and currently have a property under contract in Poughkeepsie (Thompson Street). 

Quote from @Chad Gray: You shouldn't sign a contract with a 5K EMD if you don't have it or at least know where you can source it. 

Thanks Randy Gillespie David Thompson Randy Gillespie Travis Dawson

It's a gray area yes, but it is possible. 

@Joshua Thompson yes, the goal is to fix it up and live in it for 12 months.  

Originally posted by @Gray Bryan:It can be done.

Hunter S Thompson is mixed in there regularly for a brain break.

You'll probably have to compromise on at least one of those.You may want to chat with @Jacob Thompson about his experience as he went through this exercise locally quite recently.Good luck!