Another consideration is to get a portfolio loan that will take on both properties at an average rate which will give you capital through a finance (refi similar).

But right now, I wonder if a total newbie in this should really be trying to get a small loan (50k) to purchase two house around 60k each?

The house is uninsurable without repairs.We qualified for the loan with the assumption the house is livable. 

Are both owner-occupied loans?

Looking to finally get in the game and would love to network 

Be sure and send them a final accounting including the security deposit to any forwarding or last known address. 

Instead, I gave her a no-interest loan; she wanted to get a new car and never had one before, so I bought the car outright (a sensible Kia Forte) and essentially gave her a no-interest loan.

As they described it, the principal of the insurance earning interest wasn't diminished by the loan like, say, a 401k loan would be.

I am looking at a cash out refi or a heloc/heloan, a 401k loan, a home equity agreement or even creative financing to do this.

Hi Jason, The first time home-buyer program would apply if your wifes income was able to carry the loan from a debt to income ratio standpoint.