Hello BP, have a question on getting creative for financing that I am hoping one/some of you could help provide guidance as my wife and I try to navigate a second property.Our current situation, we have an owner occupied duplex. we purchased this property roughly a year ago and we put 5% down for a 5/1 ARM loan.

Her construction team is quite large has connections with LA Building And Safety, Permits and Plans are already approved.  

Close, put the $250k you planned into it to fix any health or safety concerns then use the cash flow to fix up the building or redo units as tenants turn over.

Based on this new info I’d say Talk to a local credit union with a strong commercial lending arm.

Even if you don't make a profit it would be a way to learn by trial and error and prepare you when the time comes for you to get your first deal.Since they aren't married, keeping the home could be advantageous to her as a safety net until they tie the knot.

Just arm yourself with knowledge then move forward.

It wasn’t put up to watch her it was put up as a safety measure for crime in the area.

And some inspectors balk at using the money for things not necessary for health and safety.

Have been spending the last few months sharpening my knowledge and skills to best arm myself for when I pull the trigger on a property.

You'll have a very tough time buying one with an FHA loan since FHA has strict requirements (no peeling paint, handrails, etc for other safety items.)