3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

This is my first post so if it is a bit naive I'm receptive to feedback on improving it :)My partner  and I came across this interesting property in a great location in Natick, Massachusetts.

From my understanding, I can write off any improvements to the home that I paid for.

It came down to potential income versus expenses.

As the property appreciates or rents increase, you can effectively phase yourself out of the property and purchase another, all while keeping the same initial mortgage.Newer investors like this strategy because it allows for a lower down payment versus purchasing a "true" investment property (which usually requires higher down payments). 

We have made some major improvements to the unit we live in and plan to move out in a year or 2 and BRRRR it.

Mostly cosmetic with cost effective touches to the bathrooms and kitchen to improve aesthetics What was the outcome?

@Steve SwensonYou could start out with owner financing, improve the value of the properties, and then look into refinancing with a longer term conventional mortgage.

I'd certainly have major regrets if I failed to capitalize on a large investment versus a small one for my first deal.

He laid out his terms for seller financing versus an all-cash offer.