So we are looking at purchasing a home (new primary residence) but we will be leasing back to the current owner for 120-150 days as the current build they are working on is being finished.I was told if I apply for a mortgage and disclose that it will not be my primary residence outside of 60 days from the point of contract that it will require a larger down payment and a higher interest rate.

Hello everyoneI purchased the "Start with Strategy" book by @Dave Meyer from Audible.

Purchased a new construction in my town - (Gallatin, a suburb of Nashville TN).

We are looking into purchasing cash and do some light updating but the county records shows as a 2/1 but the house is actually a 4/2.

@Navjeet Singhwhere is it, what is purchase price, what's your plan for it?

Bars will be on the windows (crime reference above).Don't be surprised if your cheap purchase costs that much or more to repair as your repair costs will be much higher than a home built with more modern materials, such as in the 1940s-1950s.

If you already have 15 rentals I’d obviously take a $200k cashout refi on one of them and use that for the purchase.

Hey Jacob,Hiring a real estate attorney can be a smart move, especially for navigating the legal complexities involved in purchasing foreclosed properties.

That would probably net around 4.5-5% cashflow plus appreciation given my overly simplistic formula for cash purchases. 

Purchase price: $146,000 Cash invested: $42,100 Bought through hard money.