I actually stumbled onto the podcast before the forums, and am lucky to have found such a great community and resource!

I'm very new to this community, but from what I've seen, read, and experienced everyone is so helpful.

Hello BP community,As a former Contractor turned investor/stay at home dad, I am in the middle of my first property deal with two Contractor/Developers in my previous home of Teton Valley, ID. 

Here is the summary of my situation that requires creative thought:Location: DC Suburbs (Clifton, VA)Original sale price: $300KOriginal mortgage: $240K ($60K down)Money spent rehabbing property since 2008: $70KTotal cash invested: $130KCurrent sale price (based on comps): $430KAmount owed on mortgage: $208KPotential cash generated from sale: $($222K, not including transfer costs)Estimated Monthly Rent: $2,200Current Monthly Payment for M/T/I: $1,300 *Biggest yard and likely one of the most updated homes in a desirable community where "average days to sell" is less than 14.Now the issues:Need $100K-$150K out of the house (or via investment) in order to put down-payment on next home, which will be primary residence (probably a $600K home).I've plugged numbers into every rent-or-sell calculator out there, but always feel like I'm missing something big.

In many communities, representatives of the “Welcome Wagon” would take note of a person’s home, furnishings and character, among other factors.

However after my showing I think its a much bigger project than I anticipated and likely wouldn't qualify for traditional financing, so wanted to ask the community about how larger developers are turning these big old houses into multiple condos all over Boston.

And you should jump in, the community is pretty great here.

It is great to have you and please feel free to jump in the community - there are certainly great people around here!

Hi BiggerPockets Community,When I initially discovered BP, I had set out a goal for myself to purchase my first [income] property by end of 2017.

I want to change communities and give families a safe and clean place to live.