@Carrie Reyment you will have the self rental rules to worry about.

Now I just go to HD for everything unless of course it is something they don't carry.

I have never had an issue personally but I always carry when I am in those parts of town rather be safe than sorry.

Make sure you really run the numbers and determine how long you could realistically carry the property with no tenant. 

So, I would love to rent out my house (they are fully onboard), however I don't have enough cash (yet) to carry two mortgages.

Are they able to carry a dialogue with others I trust or know on the site.

Carrie Dahn in the tri city area has been great to me:)

@Alan Laracuenta 1 Ask if they would be willing to do a seller carry back loan for part of the required down payment from the lender. 2 Find out if there are any lenders that are doing 2nd liens with your sorta experience.

So if you are going after a deal that is worth $300K ARV (don't forget to take out the front end, back end, and carrying costs) and need $170K to purchase and $30K to do the work ($200K total) and want a HML to fund it at 112 and 2.....you'll need $4K upfront and $1K each month for the fees. 

Many times with carry back terms.