If I live in the property for a year, can I use the same program to purchase and occupy another multi or, can you only have one of these types of mortgages open at a time?

I have recently come across some undeveloped land that I would like to purchase.

I will present two (somewhat technical, sorry) points that are essential for the specific question asked by OP.1.

From our conversation, it seems like there are indeed properties that will cash flow in the 6-8% Cap rate and 10%+ cash on cash rate and that there are Debt-Service Coverage Ratio (DSCR) loans around 5.5% and 25% down that will fund a purchase with the appropriate cash flow. 

Woody's business started at the time he purchased the 1st property or at the time he held it out for rent, because, in any event, the expenses in question here all occurred before the purchase date, i.e., before December 30If the earliest possible date investor was actively carrying on a trade or business was December 30, 2004, then any expenses incurred in that year but incurred “before the day on which the active trade or business” began, all the expenses incurred from January 1 through December 29, 2004--would be, by definition, start-up expenses whose deductibility, and possible amortization, is expressly dealt with by section 195 (Start up amortization).Court case for reference: Code Sec(s): 162; 195Docket: Dkt No. 30077-07.Date Issued: 04/30/2009Judge: Opinion by Gustafson, J.Tax Year(s): Year 2004.Disposition: Decision for Commissioner.

Also, is there anyway you would be willing to share a sample screenshot of your journal entry for purchasing a home and for the sale? 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

INCOME disparity is the issue to home purchasing.

Our job as lenders is to provide education for clients for THEIR SPECIFIC scenario, not to educate the population as a guru on why they should get into real estate investing.

I am looking for a template that will calculate the a maximum  cost to purchase a fix and flip , with a variety of financial options and then a template to manage all project costs.