Ken McElroy is an outstanding example of an ordinary real estate investor who stayed with it through thick and thin to become successful and I'll listen to him as many times as you can get him to come on.If you could corner him into doing an 'intensive' on any subject related to the apartment biz that would be great too-

@Nancy Rhea I can relate.  

Of course the property would need to be a relatively higher cap rate considering it would need to cover the 6 & 8% interest being paid.Another option would be a lease option or something of that nature, sublet and exercise the option with private money or a conventional loan.I would love to hear some other ideas/thoughts, etc. on this!

I am very new to real estate investing and looking on getting educated more during my off duty time including getting advice from BP members relating to real estate.

A lot of this information can be found relatively easy, and your real estate agent (if you selected on correctly.. you want one who owns their own rental properties) can be a great help.I do cover a lot of topics on my blog, www.intendhomes.com, but there is a lot of good resources here as well.

@Jay Willems , since everyone is mentioning buying a duplex to live in one side, I will say my first deal was an FHA 4plex living in one unit, and couldn't have been happier with the results, although you have to be willing to make some sacrifices relative to living in your ideal situation you would have picked, all investment considerations aside.All said and done, well worth it..

Which is why I don't understand how landlords can charge such high rents relative to the cost of owning.

I have a related/very similar question.  

(a) For purposes of §1101.652(a)(3) of the Act "a person related to the license holder within the ?

It was done in relation to a conventional FNMA loan and the deeding back into the entity was not disclosed to the lender.