You could then manage your parents rental and charge them a fee :).

A processing fee to equal to the total fine (including fees, penalties and any other charges) will also be taken out to compensate the landlord for handling.6.

Hard Money rates are too outrageous, some conventional lenders will lend for the purchase price but not the rehab, and lines of credit are an option but it's hard to get a business loan large enough to cover 100% of the purchase plus rehab if any.So, here's where I stand.

I use smart move myself but because I charge a non-refundable move in fee I cover the price of the smart move.

I would definitely say if you can go private mortgage or conventional mortgage for a Long Term Hold, definitely do so!

If it wasn't for the charge in 2012, I probably would consider him.

@Tyler Deuel,If you can get a loan for 75% of $300 ($210k on conventional terms) and pay off $80k and give the owner $130k in cash at settlement, would the owner be willing to hold the second note on the property for $80,000?

The lender won't lend extra money under regular conventional loan.

Especially if your likely buyer is a young family taking out a conventional or FHA loan.

-Stay at home and save for another 12-15 months-Use FHA financing to buy a first multifamily property (2-4 units)-Live in one unit while renting out the rest-Pay down mortgage for 1-3 years, refinance FHA status into a conventional loan-Apply for another FHA loan and repeat the same process in another propertyObviously it would be better to buy and find a property that can cash flow.