I just bought my second house in 2023 and currently living in it while renting out rooms to help cover the mortgage.

Purchase price: $138,000 Cash invested: $16,500 We purchased this property subject to (Subto) the existing mortgage.

I'm also a mortgage lender.

I would use the flat covering, but have the side by the house raised an inch or so for proper water flow. 

A land contract, wrap around mortgage, or subject to purchase with a seller 2nd carryback all run the risk of a due on sale clause being invoked.

The plan is to use the funds to purchase that first rental and begin flipping some houses along the way to pay down the mortgage on that long term rental, rinse and repeat. 

The loan could be secured by the property as a note and mortgage and that way you define the payment structure and interest rate to pay them.

If on average, selling a property costs about 8% So then we would have:200k-8% = 184k - 80 (mortgage) = 104kBut, let’s say the property was a long term holding so capital gains taxes due on it are 15% (assuming no state taxes in Florida  So our capital gain was 100k and 15% is 15k due in taxes!

Many investors use mortgages to finance their purchases, but there are other avenues such as real estate investment groups, REITs (Real Estate Investment Trusts), or crowdfunding platforms.Step 4: Market AnalysisChoose your market wisely.

Be sure you have the tools necessary to manage the loan properly.