If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

However, i'll likely be looking at additional ways down the road to be even more secure for a backup what if scenario.  

Problem SolverLet’s be real—no project ever goes 100% according to plan.

This property offers spacious townhouse like setting floor plans offering one, two and three-bedrooms.

And yes, there is a risk that your rates would go up or they can drop you - but unfortunately, many insurers in that are may already be planning to exit the market or raise rates on everyone to make up for loses.One thing to note about a claim like this, insurance will usually pay for repairs to the damage caused by the problem, but not fixing the actual pipe that broke.

Though it wasn't what I planned or expected, just glad its over and was able to move on to different project.

Share a clear business plan with numbers showing expected purchase, rehab costs, ARV, and rental income.

So this involves hiring an architect draw up plans ($1,000 - 3,000 if I had to guess).  

Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

Even if you plan to self-manage, having a solid property management contact early on is always a good move.