You can supplement your current income with real estate related jobs/tasks so you learn more about the industry, which will be helpful when you look to borrow since you will be able to show that you have experience to a lender.

The SJC held that, given that this was a reverse mortgage, and not a traditional mortgage, "where the lender cannot hold the borrower personally liable for the debt, and where the lender’s only recourse on default is to obtain repayment through a foreclosure sale," "the only reasonable and practical interpretation of the mortgage was that it incorporated the statutory power of sale."

If not the Borrower's credit report and payment history are the best sources for info.

FHA requires the primary borrower occupy the property as their primary residence for a minimum of 1 year.

He runs a boiler room that focuses on the marginally qualified mortgage borrower.

What we don't know is how much he borrowed in hard money/Family loan at 3%.

Normally I could negotiate them down a decent chunk but in the environment finding someone that is lending at any kind of reasonable LTV has been tough.Today I'm talking to another lender up north who is pitching 70% LTV with rates starting in the 5's for borrowers with 700+ credit. 

You don't pay capital gains when you borrow on a property.

When they borrow a crane from work to change the engine in a pick up . ( This is what I saw when i went to the property this morning ) 

Depends on the State Regulations. 6.Seller SecondsThis is a mortgage issued by the seller to the buyer that is placed in a subordinate or second position to an existing first mortgage from a conventional lender; seller second can be a great incentive to buyers; can help them purchase by putting down less cash-leveraging their assets; second mortgages typically carry a higher interest rate than first mortgages, an advantage for the seller over other investment options; a seller second can open new opportunities for buyers in markets where conventional lenders are tightening their loan to value guidelines and buyers need a way to close the resulting financing gap; lenders who want to limit their exposure may agree to a "Combined Loan to Value" guideline that supports a seller second; seller seconds may help buyers reduce their conventional loan needs below the PMI (private mortgage insurance) level, saving significant dollars per month; seller seconds can also help in larger purchases, reducing the amount buyers would need to borrow conventionally, bringing their remaining loan requirement within reduced rate "jumbo" loan territory; some conventional loans prohibit secondary financing; second loans not disclosed to conventional lenders are illegal.sellers granting a second loan must file a lien on the property. 7.Lease with Option and Lease PurchaseA lease with option to purchase is an agreement that the leasing party can buy (or not buy) the property at lease end for an agreed price; a lease purchase agreement, the leasing party commits to purchasing the property immediately at lease end; the owner agrees to apply a portion of the monthly rent payment toward either the buyer's down payment or closing costs at time of purchase.