Ideally, a location near a hospital or other attractive amenities is ideal.The upfront investment you would need is the Security deposit and 1st months rent, and cash to furnish the unit.

It doesn't sound like you have either.Tell us where you are and where you want to go, then we can provide directions.

The damages exceed their security deposit.

That could be cutting a check or providing a place to stay. 

In all honestly in your situation, I wouldn't put any money into real estate until securing stable employment.

Thanks.just a side note, the tenant has requested first month free rental, windows coverings (not satisfied with the new blinds being provided), and free utilities for 5 days.

The bank also wanted the church to maintain “compensating balances” in their checking account.We had an existing $650,000 mortgage secured by the property, which had been paid down to $615,000.  

I think you've done a fine job of providing quality content.Thank you for taking the time to respond and see you soon!

I opted to  provide my renters with a yoga mat, hand weights and the house pool is great addition to get some exercise! 

Here are the details:Assumable loan balance: $750k at 2.75%List price: $950kDownpayment needed: $200k to cover the differenceMy initial plan to make this deal work included a few options:Getting a loan for the $200k difference.Bringing in a partner.Asking for seller financing.However, when I discussed these options with my agent, I hit a few roadblocks:Second Mortgage: My agent said no bank would provide a second position loan for the $200k.Seller Financing: He mentioned that 99% of sellers would reject this, though we're asking anyway.Agent's Advice: He suggested I just get a conventional loan and put 5% down for the full $950k, but I feel this defeats the purpose of leveraging the assumable loan.Given these challenges, I’m trying to figure out the best way to raise the $200k.