You need a job that pays to be able to borrow money to buy real estate.

The borrower needs to show sufficient income to carry all those loans + PITI.   

@Justin Mathews, Tax free trumps borrowed money every time.   

If you are borrowing private money, it becomes your responsibility to make sure that you hook them up with a good attorney who can draft their paperwork properly.

Peer to peer lending - you can borrow $40K cash from P2P lending websites like LendingClub.com.

I’m thinking that the cost to me might be the amount paid to the owner to quit claim but I’m not sure of the impact to me for being the owner (not the borrower) on a home that might ultimately end in foreclosure if I am unable to get the lender to approve the assumption/reduction.

If I do borrow from the equity in the house what steps should I take.

Get your ducks in a row as far as the type of deal you are going after, and also your credentials as a borrower.

Hi Dirghayu,CMBS is a more complex borrowing instrument than a typical loan.

@Robin CasperOne error in your accusation....by definition, in a short sale the bank does Not own the property, the borrower still does and yes, they have the right to rent it out or let their agent rent it out.