If you wanted to work with a developer/builder, I would think with our engineering backgroud, you should be able to be a project manager, forward planning, even acquistions associate, albeit with some training. 

If you bank at a retail bank it's likely that you could pull a cashier's check to provide  certified funds.As to the wisdom of using other people's money (that you are solely responsible for) you'd better be comfortable with repayment even if things don't work out as planned.

If you ever plan to develop the land and sell it you'll use a title company and they'll do the research then, and if there is an issue in the chain of title then you'll wish you did it on the front end.  

•I plan to put 20% down on this new property, which means I’ll be left with about $80,000 in cash after the purchase.Given this scenario, I’m trying to decide whether to pay cash for the second property or continue with the 20% down strategy .

My plan would be to live in it for a year and then start renting it out. 

Whenever someone files for bankruptcy, there is an automatic stay of all legal proceedings against that person. 

If you plan to invest somewhere else, who is the top agent for investments in the area that could point you to a good mentor, or offer mentorship themselves?

Plan for your next property but there's no reason to rush into something so quickly.

A mixed way is often best, with plans for money coming in and extra backup for any surprises.

I am getting ready to purchase my first rental property in Oklahoma City, OK and I’m looking at an home that is priced under $80,000.I plan to put 25% down to get the best rate.I’m from California and haven’t run into this before... but it seems like there are lending minimums and a conventional loan of $60,000 isn’t something I’m finding easily.I could likely get a hard money loan or get a HELOC on my primary residence and purchase the home with cash... but I don’t like these options because the interest rates are higher than a Conventional loan.Besides hard money or a HELOC, are there any suggestions on how to get this smaller loan at a reasonable rate?