Also looking for ideas on financing since I have $25-30k for down payment but if I can do it with less, that would be ideal.

I signed a WS contract with a seller this week....after which I discovered he owes more on the property than the contract dictates that I pay him: we agreed upon $85,000. He owes $89,000 in mortgage and loans, with ...

Anyway, if that is your number one criteria it seems like a lot of CA residents head that way.

That can happen if you buy a home that needs a little TLC or renovations and after the upgrade the new ARV might put you at that 85% LTV or lower, possibly even be able to take cash out.As a first time home owner you can use FHA 3.5% down or Fannie Mae 3% down (single family).

Negotiate terms like purchase price, down payment, interest rate, and repayment schedule.3.

Given the fact that I’m single and have zero dependents I figured it may make sense to move to the new house for at least a year to get a primary residence mortgage with a lower rate and rent out my existing house as a furnished mid-term rental.My question is around taxes: my current home needs significant repairs and updates (about $20-30k’s worth 😬) before it’s ready to be rented (the pool enclosure went partially down during a storm among other things).

For example, interest rate buy-down, home warranty, etc? 

@Trey Campagna without knowing much about your situation I'd say the first thing to do is to use a VA loan to buy a primary residence with as little money down as possible and the lowest interest rate available.

You get the write off for the repairs and still collect 100% of the rent so there’s no question down the road about gat happened to the missing rent.

Slow down and take a deep breath before making decisions especially where money is concerned you can sometimes be blinded and make bad choices. 4.