You just have to ensure that the mortgage balance is not higher than your offer; otherwise, the seller would have to come up with money to close, which is highly unlikely.

Also, I would highly suggest that you go in person with your application to the Municipal Building in Center City, it will take over 5 weeks if you mail it through snail mail.

Due to the high costs in San Diego and current interest rates, I would most likely only be able to put up to 10% down.

Hey Robert, high appreciation will bring you the biggest returns. 

We are already a fortunately high net worth family. however, that is from my spouses W2 income, so at this stage we don’t really have anything tangible to “leave behind” and we want to try to build generational wealth for our child. 

The electrical I am in the process of lowering all the outlets to the same level since 2 of them are about 4' high.

I would highly suggest that you also get involved in local real estate meetups.

Interest rates are high today, but do I wait and buy when rates drop or wait when prices jump? 

For most of us, that situation would be a year of very high profitability.  

If this MP is lower than the Calculated Maximum MP, the AP is too high, lower the Offer (asking Price) until the MP is equal to or less than the Maximum AP.