To make the numbers work on that deal and get 100% financing, you would need to reduce your reno budget by $20k.

Would like to start our REI journey by converting our primary single family home into a rental.

Constant communication, follow ups, being on top of their transaction, and making sure to not be salesy by pushing out terms that may or may not work. 

This is never accomplished in hard money loans and some may feel this adds more risk to the lender not having interest paid as you go, I argue that not having to come up with that monthly interest payment reduces the amount of capital needed for that project total and there by reduces the loan to value needed which helps both parties.

You're implying that you want to squeeze some tax benefits by structuring it as some kind of renting from yourself.

==I believe @Jaron Walling is referring to offsetting capital gains by $500K due to filing as a married couple if you've stayed there for longer than 2 years.

You are interested in real estate investing and are looking for resources to develop your knowledge.I work with a lot of doctors and busy, high income earners to help them build real estate portfolios to slow down at work and offset some of their W-2 or business income.Some books to consider are Multi-Family Millions by David Lindahl, Investing in Real Estate with No and Low Money Down by Brandon Turner, and Equity Happens by Robert Helms & Russell Gray.Some You tube channels to follow include Get Rich Education, Ken McElroy, Jason Hartman, and the Real Estate Guys Radio Show.Yes, until you are making attending physician money, I would house hack the house you live in by renting rooms or buying a duplex as a primary residence with low money down.To Your Success!

Originally posted by @Kelly G.

They are told to borrow and buy by gurus and the media no matter what.

They receive somewhere in the realm of 1,000 complaints by consumers every year.