What's the existing financing?

Depends what you wanted to do if you want to buy your next property to move in to and go FHA you'll have to refinance your existing property to conventional.

It's been a while since I worked in HVAC; but depending on how the central air is set up, it could be easy as adding in a heat pump and connecting it to the existing duct work.

Having more time on the existing lease may be an advantage if rents are at market level.

I currently have one SFR here in Cheyenne, joined BP after I bought that, and subsequently learned so much about SFR investing, as well as other avenues of investing that I never knew existed.

Here's an existing thread about the company @Kris Haskins mentions: http://www.biggerpockets.com/forums/79/topics/78592-private-money If you're actually looking for a lender, @Bryce Robbins you will need to post in the Marketplace.How about seller financing?

As an example, the most recent report of "existing home sales" showed that 4,900,000 homes were sold on an annualized basis in November, 2013 (the last reported month).

Marie Poe gave you a great example.When I approach this type of situation I like to have more in depth info before I propose solutions to the seller. ( sellers expectations, wants & needs, current rent, market rent, expenses, existing loan balance & terms etc.)It would be cool if this transaction could be done using your IRA (or someone else's) to buy an option.

I will potentially be purchasing a property sub2 the existing mortgage of $92,000.00, property worth $125K as is, seller says depreciated to $0, I will give a $10K note balloon due 10 years @ 0% interest and $100 a month for ?.

Two points in particular that resonate with me are @Ellis San Jose "opportunity cost" and @Jerry W. logic of the 12% existing cap rate versus losing money at anything below 13%.