I own a tax return preparation, financial planning and business consulting firm that specializes in tax returns for real estate investors and setting up LLCs for investors.

Some elements that will make a condo non-warrantable are:* High investor ratio* Insufficient reserves/Bad financials* Litigation* Buying as investment vs primary/2ndWhen the condo is deemed non-warrantable for the specific transaction, then the only financing option left is a non-warrantable condo portfolio loan.Hope this helps.

A person in your financial position has no business doing real estate.

Prepare your financials just like you would if you were any other business seeking a business loan.

So you need to establish if the seller has sufficient equity or cash to pay it as its his debt not yours.second off you would simply raise the price to cover the lien.. are you looking at a 203k loan ?

If only that were true, everyone would refinance the property at max LTV right before they sell.Based on what you say you want to do, there's no way to minimize capital gain tax.  1031 option you can't take money out to pay your other debts.  

REIA's are great for entertainment and exposure to those selling dreams and stuff - but they will not move you forward fast enough.You give me the impression of being impatient and want to reach your financial goal - maybe before you even have them.I too know many of those 7 figure income people and own a unit in Manhattan and other states.Those 7 figure income people got where they are by making right decisions - they have the ability to see right through a novice and a bad or unprofitable deals and have the ability to dismiss an individual without mercy!

http://www.usdebtclock.org/state-debt-clocks/state...$400+ billion debt.

Each offer must include a renovation plan detailing your plans to restore the property and your financial investment.  

$1MM in debt by the time I hit 30yo - but to each their own!