In Cordova and Bartlett (Memphis) today although the inventory is getting tougher to find, you can 15% or 16% cash-on-cash return with 20% down and traditional non-owner occupied financing.

I was thinkin 1 mitsubishi w/ hyper heat for the cold Maine winters and 3 heads (living room, bedroom 1 and bedroom 2)Are you using traditional electric hot water heaters with these?

Wannabes who paid too much for the 3  days get rich real eatste training by that guru

It's going to suck when i have to leave to go to where their is investment oppurtinity.I read rich dad poor dad when I was like 13, along with how to win friends and influence people, and think and grow rich.

I'm buying (buy and hold) a property through my LLC and using funds borrowed from my brother to help with repairs (will have a traditional first mortgage as well).Is it possible to setup the borrowed funds from my brother similar to a 2nd mortgage and also give him a % of the future sales price in the promissory note, even though he's not a member of the LLC?

Couldn't you refinance your initial house into a traditional (non-FHA) loan, pocket your equity, and then buy the duplex using another FHA Loan for only 3.5% down?

We took a page out of "rich dad poor dad" and used other people's money.

Since it's a home you plan on living in and not flipping I'd recommend just being patient and use your conventional loan unless you know someone who can loan you the money on more favorable terms than the traditional hard money lender.  

Unlike the traditional mortgage market for site built homes, most of the lenders providing chattel financing for manufactured homes are quite small in size and volume. 

You won't pay taxes on the first $250K in capital gains, and you'll have enough money to plow back into another primary residence and traditional investment property.I started out like this and went from a studio to a 2BR and investment property within 5 years.