I agree with Alecia that house hacking is generally the best way to get started, so for the moment I recommend working to get your credit score as high as possible and saving up for a 5% down payment.

Even our attorneys think so and they think this is just the tip of the iceberg.  

The applicant has no verifiable income (he is an artist and woodworker), but has basically zero debt and an excellent credit score (almost 800).

Consider using the equity in your home with a HELOC (Home Equity Line of Credit).

Buy the home in an LLC with a hard money lender for 2.6 million with a 900k rehab credit written on both sides of the settlement statement.

I hope you still plan to screen her properly, credit check, and check with her previous landlords, (not the last one).

Online blog sharing tips and experiences .

Hi John, Here are the numbers: Purchase Price $101k/ ARV $205k/ Down payment $21k/ No rehab/ 785 credit score/ 30 yr amortization

. ;-) It's simpler to have an attorney hold onto things and is a powerful witness in a lawsuit. that I get  we did that with our alonges to our notes on our HML  credit facilities we turned over our notes and the alonge to the bank and they kept those docs in their vault. 

I've also seen entire lines of improvements encroaching in a daisy chain because a marker on the ground was mis-identified.Lastly, while I may be giving your loan underwriter too much credit, is it possible the underwriting objection is the existing loan on the neighbor's property?