Banks and lenders will want to see that if you're looking to expand the portfolio. 

Our local bank does 80% of the cost, but takes our word for what costs are.

@Nathan Mellor regional bank, First Bank and Trust.

I still need to learn a little more about the Section 8 process though.For the financing, I am currently working with a local bank on a 90/10 interest only construction loan. 

So I found a property where the bank foreclosed in May ‘17 for $20k and it’s listed on the MLS for $110k.

Unfortunately, I don't have cash.If you go to bank or any lender, the loans will eat my profit and salary.

Richard, consider using other assets to pay the taxes or obtain a loan from a bank to cover the taxes.

Total house value of 1 million with half million mortgage.2) I have 250,000 Home Equity Loan that I can borrow anytime from the bank to make real estate investment.3) My family annual income is between 200k to 250k, and my goal is to buy 10 properties in CT, and make $10,000 monthly passive income in the next 10 years. 4) Specifically, I would like to buy one multiFamily house at a year, and it will create a free $1000 cash flow each month. 

I think it's their way of saying that they won't be working with a bank or doing inspections, it has to be a simple transaction. 

He would front about $15k, and then pull off our house to go make money elsewhere since our bank wouldn't allow us to draw, being that he had not completed the current phase.