I was thinking of asking for owner financing (30-year rate, 140k, 4% APR) for 5 years (or as long as possible), then have the remainder of 145k or 150k due at the end of the 5 years.

When interest rates were 8 to 12% APR 30 yrs ago, it wasn't such a sacrifice to accelerate mortgage payoff instead of an 8 to 10% expectation elsewhere in stock market, mutual funds.

I’ve been qualified for a good loan with very good APR under an FHA and according to the lenders variables I can own the property with very little down.

The agent is a pre screen so I don't have to wade through those that don't work.I have several standard criteria,  things like gross income 3x rent, no open collections, no violent crimes etc.Good luck! 

I will try.I also forgot to mention a couple nuances about NACA loans in case anybody else has any input on how to maximize loan usage.1) I can buy as many other properties I want as long as I buy the NACA property first and live in it for the life of the loan.2) I can get a NACA rehab loan, although I hear the process is difficult.3) If I sell all property I own, I can re-qualify for a new NACA loan (as long as it has been 3 years from my first NACA purchase).I'm purchasing the property with my partner and we have a pre-tax income of about $11000 per month.

Do you need to use them, or will a pre-qualification or pre-approval letter from another lending institution work?

Please let me know if you have recently closed on a pre-1950s home in the area and are about to begin renovation, or if you have done one of these before and how your experience went.

BP Community, I'm looking to sell a SFH rental in Florida and 1031 exchange it into a pre-construction duplex with a construction loan.  

Hi BP,Long time no post.I will be closing on my latest purchase on 25 OCT. 4 Bed, 4 Bath vacation property 10 miles south Breckenridge CO ski resort.

Where I buy, in the mountains of Colorado (ski resort towns), properties are bought and sold already furnished.