I would not do this if your income was not significant to support issues or if you plan to move far away from the property.  

So, between Child Support/Alimony, and that mortgage, I think it will be difficult for me to get financing. 

I know a lot of BP folks are new to the game ( of course I have no way of knowing when you started) however prior to 07 ish... the holy grail for rentals was the 1% rule if you could hit that you were doing great.it was only after the crash were prices in some markets fell 50 to 80%  and rents although they did not rise and or they fell a bit but they did not crash.. 

That is really helping me change my paradigm into becoming a real estate investor who (for his first purchase) wants to live in a decent part of town for a year (because FHA rules state the buyer has to live in that house for a year correct?)

Or the affiliates/marketers of the guru education programs pretending to know what they are talking about and skirting the soliciting rules in the forums!

If that money runs out, Medicaid will step.To prevent abuse, each state has stringent rules including "look back" periods where the state can disqualify someone based on the transfer of assets.

There's always ways to increase response and conversions, but remember 20/80 rule.

None of the big firms will be willing to support and train you because they have a seat cost and you won't be trying to make that seat pay for them.  

Some institutions have their own internal rules.  

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