Excellent for Passive Income!

I have $15,000 in business credit, excellent credit and still saving up cash.

I’m here to ask the experts which route I should take, if any.Basic details about me: I’m 34, recently married and no kids but planning to within the next 2 years(this detail is just for you to know that I don’t have much restrictions on moving aside from commuting)I currently own a coop in Yonkers, NY with roughly 50k in equityI am willing to invest in the tristate area but if I have to live in the property I have to limit my distance to Bronx, Westchester and Connecticut.I also have enough saved to buy a 275k property with 20% down or the max allowed with an FHA loan (this is without having to sell my coop)I have excellent credit which will qualify me for loan without an issueThe way I see it I have 3 options in order to get started: Sell my current coop, buy a triplex in a worst neighborhood with more TLC needed, and move to into the property for at least 2 years to qualify for an FHA loan.

If you start to make contributions along with receiving a company match - you will notice the amount adds up and a 401K loan can help you with your first rental purchase.and Welcome to Biggerpockets!

I checked and I did not receive any notice about the increase in price.  

Hey @Matthew Roberts@Jerry Padilla is an excellent person to speak with regarding the 203k loan.Let me know if you’d like any assistance with the property identification/acquisition side of things.  

I was told that this is the most egregious breaches of a Realtors' Oaths and of course, breach of trust and that, at a minimum, I should receive the commission back.Please let me know what you did if this happened to you and / or, what I should do? 

@Caleb Childs there are a lot of rules when receiving cash out with a conventional loan in the first 6 months of ownership. 

Although we are contributing 50% of the equity, the experienced developer we are most interested In partnering with is proposing we receive only 15% of the cash flow once the property is built and stabilized.

I've contacted 9 licensed contractors and have only received two estimate of 30k-50k or 80k-100k for full reno.