I will live there for a year (It was an REO and I signed an addendum that I have to live there at least a year) while I complete the remodel and then rent the property out to establish cashflow.

Part of your rent payments can go towards the down payment, allowing you to build up the necessary funds over time while living in the property.

If the value has not gone up a lot since purchase, this might not apply to you, but one thing that is often a factor when converting a primary to a rental is losing your section 121 capital gains tax exclusion (up to $250k individual, $500k married couple if you've lived in the property for 2 of the last 5 years).

This is because we are all living in simulationNothing is real.

I don’t plan on living in Philadelphia long-term but probably will for at least the next year.

We all live and learn. 

@Michael Plaks That LLC panel would of been enjoyable and interesting.

Is there anyone who lives in NYS and wholesale using Duck Fund for EMD?

If you live outside of the area of the property, it will be more difficult, but still possible with a network of vendors.

I have been learning a lot about investing in the U.S. but I am an American living in Thailand and actually came across an amazing deal here.But I am short about $50,000 for it.