Once the the insurance company I was working with realized I live out of state, and that they wouldn't be able to also carry my auto policy, the prices skyrocketed from ~$2,000/year to ~$9,000/year, which would put me upside down on the property I am looking to purchase.Does anyone know what is causing this, other ways to pursue out of state insurance, or insurance companies that would be interested in this type of risk without an auto loan?

Get the seller to carry, buy the 4-plex and use the rents to pay the mortgage."

thanks for the post Carrie.

I'm getting some offers at asking if I'll carry paper.

I know an investor around here with about 50 properties all paid off and he self insures, meaning he doesn't carry any insurance.

LOL, That's what I saw as missing from the above, but I carry two blue-ink ink pens, blue on contracts so it's easy to see the original from a copy.

Having the extra cash on hand can certainly be beneficial if you have the tolerance for carrying the student loan debt while investing in a property.

Whats the single factor that carries the most weight...Days on market in the area, the price, etc?

I'm pretty confident this will take care of my concerns about homeowner liability and the "due on sale" clause.My remaining concern is the risk that negligence carries.

If you have not been notified you might sell the property to your friend (with him being aware of the issues, I'm sure he is) and carry the deal.