The US mainly does recycled steel production since it requires far less energy and potential EPA issues, but recycled steel can't be used in most technical situations.

Its still your debt, though, and it would now be the first mortgage and your new loan would be a second. 

The place is labeled as a single family but has a fully functioning 2br basement that works well as a 2nd unit. 

Hey BP, Im curious on what some of you would say as the better route to go and why.I'm at a crossroads between:Starting and focusing on New construction for single-family houses to eventually get into being able to build small to medium editions as a long-term goal.

I'd be happy to share info with my circle to see if I have anyone that might be interested (either an agent to list it for you if that's what you decide, or a buyer).

Sounds like it could generate some good monthly income, but it could also be a hassle being that far away and only 1 property.Yes, but we have friends in Fairhope that manage rental properties so we aren't as concerned about that. 

Since you're purchasing it under market value, you shouldn't have an issue getting it appraised at $145K.The seller would net $140K and the additional $5K would be seller's concession towards broker commission and closing costs. 

Our rental properties are listed as well, but those are owned in an LLC. 

The lender is a great guy as well and just wants a solid overview of the deal.Yeah, I think you posted about this deal before.

This will be a commercial loan.