They are expensive and best avoided if possible.When I started I used some FHA financing and while it was still expensive, it wasn't nearly as expensive as it is today... and you were able to appraise out of your PMI which is no longer the case.So - I wouldn't write it off altogether if the right deal came along and you were planning an exit... but it's not ideal.An angle might be to get the 'right deal' under contract assuming FHA financing as the last resort / contingency in your contract while you pursue some of the more creative financing options on the site here.

The more I think about it, the more I think I'd like to incorporate my interest in this area into a possible investment strategy.While I am flexible in my early goings as to what type of property I buy, putting chance of success in investing before fulfilling my interest in beautiful architecture, I've begun to thing of ways to incorporate both.

Some really creative stuff may work depending on what you want to do with the property.If you are paying cash you could tell him you get possession of the property immediately but the purchase money will be escrowed until the ex wife signs.

I wanted to reach out to the BP community and especially creative acquisitions guys like @Brian Gibbons and friends to give me a few ideas and strategies to buy this home.

I like him very much as a person, but I also like him as a wholesaler because he works with another fellow who is always coming up with great creative financing ideas and is like the "seller-whisperer".

If anyone here on BP have some creative thoughts or advice, please let me know.This business is crazy, you always want more, at least that is how I feel.

Here's the link: http://www.biggerpockets.com/renewsblog/2014/04/10/bp-podcast-065-creative-investing-wendell-de-guzman/ I agree with @Marcus Johnson - you have to be careful financing this deal with credit cards.

Be creative.

Hi Greg,From experience I noticed that many young creative artists flock to troubled neighborhoods and create a great sense of community.

Your method of buying out interests is quite creative and will require some research, but I will look into it.