We are planning on using a 203k to rehab a cottage w/ a small rental apartment above the garage.

The fault in that logic, of course, is that you can not keep money you haven't made yet.One of my earliest adopted mentors, Robert Allen of "Nothing Down" fame, expressed it using a model he described as "bathtub economics".

Be aware that if you or pets inhale it, it could cause damage. depending on the intensity of the infestation, consider using a shaker with small holes to distribute it on follrs, carpet, upholstery.

I recommend using a third party who collects the mortgage payment, notifies the "seller" and pays the mortgage.

I'll do the work myself (with some help from family) and plan on using a taupe color that should hide minor scuffs and smudges.

The mention of using a cherios box is just simply what im using to store my personal paperwork - utility bills, reciepts etc.

using a 10 yrs amortization.

By using as my primary residence I can use the FHA loan I qualify for with only 2.5% down at 5% fixed 30yr.

We usually help the client purchase using a hard money loan, or their a cash buyer. 7-10 days is our average closing time.

Also what if I tie up a house on a option to buy contract and find a buyer who is using a real estate and is pulling a mortgage loan for the property.