I am currently in the process of obtaining my first buy and hold property..my only dilemma is which route to go in order to finance the property..to give you guys an insight on my scenario I have good credit (740+)..access to down payment money (10,000-15,000)..no prior investment history..Im not sure if I can do a conventional loan because my debt to income ratio may be too high and from my understanding (correct me if I'm wrong) Hardmoney lenders are typically better used with flips and rehab properties..can anybody help me understand my options to financing my first buy and hold property😩..thanks, Shane

I think some people panic thinking "oh no, the place I buy TP is 6 hours from here I'll have to go in the woods!"

Contact your closing agent and ask them to go over it with you.

We have a great relationship with our lender and they will re-fi but it always has to go to committee for an exception. 

You have to honor current lease.. if they seem ok then keep them.. give proper notice of renewal to your lease when that comes up and any rent increase at that time also.. if you want them to go you give them notice of non-renewal.Download your state landlord tenant laws and get a copy of the lease so you know current terms so you can have that all figured out. 

It's a lot of info to go through, but you can find your list if you do the work.

What are some best ways to go about doing this or should i use a different method to fund my down payments? 

She's bought into my vision and thinks the property is good to go, so we start looking at financing options. 

I plan on purchasing my  first rental properties in Jackson Ms soon but I stay in Dallas Tx I want to make sure I have a good repairmen on hand to go out and fix a tenant problems within 24 hrs.

My personal big mistakes have been - buying home with converted garage and only car port (buyers here in So Cal, especially the guys, want/need a garage), bought a house with 55 stairs from street to front door - never again, and largest financial mistake was not going with my gut and chose to go with a new agent to list a multi million dollar property rather than my proven agent or myself.