You can also structure the loan to give you a little extra cash flow in the first couple of years.

I've been living with my parents and I am planning on getting an FHA Loan to purchase my first home.

Consider factors like neighborhood, school districts, and proximity to amenities.Financing and Mortgage Considerations:Investment Property Mortgage: Understand that an investment property mortgage may have higher interest rates and require a larger down payment compared to a primary residence mortgage.Future Refinance: Consider the possibility of refinancing the property when you decide to move in, potentially lowering your interest rate and monthly payments.Loan Types: Look into loan types that might offer favorable terms for investment properties, such as conventional loans or FHA loans if the property meets the criteria.Rental Management:Long-Term vs.

Unfortunately given my present situation it’s a lot of money, so I just need to decide if it’s a road I plan to go down and if so I just have to figure out how to afford it is all.

Also some states do not allow you to seller finance if you have an existing mortgage - others require the sales price to be above the existing loan and cannot mature before the existing loan.Definitely need to get an attorney involved who handles state compliance

Hi  - I should have clarified - when my tenant was in this situation I was very upfront with her that over the course of the year it would net out to an increase in the rent (2 payments worth) and wrote an addendum to the contract/lease agreement that I had her sign acknowledging that she was aware of this and the biweekly payment terms. 

If there is an existing mortgage in your name it should be disclosed that your name will stay on the loan for possibly a very long time. 

The choice depends on your financial situation, risk tolerance, and long-term goals, with financial planning, market research, and real estate networking being essential.Good luck!

The line will be over $500k so most banks process it similar to a regular home loan.  

I have several loan originators willing to host a webinar to showcase what options they have available as well as field questions.