If you do a short-term loan there are programs where you can increase the rate and reduce your upfront costs though.Is it your plan to only buy 1 investment property and pay it off?

Other cities do this already, though the program/requirements vary a little from city to city.

First let me congratulate you for making a wise decision by not blowing money you can invest on "guru programs".

A home being purchased through the HUD program must be used as a primary residence.

Additionally, if the Seller has any equity in the property, you will need to be prepared to pay the difference between the mortgage any market value if any.Because mortgage rates are so low, it may be a better idea to just purchase the home under a new mortgage and have them pay off their USDA loan.

Otherwise, people don't think about it, and aren't prepared.

I'm not a Doomsday Prepper and I don't have a "bug out bag", but I like to be prepared.

I bet his Dad could qualify for a streamlined HARP program loan through his current lender with minimal documentation, no appraisal and minimal loan fees.

Chime in.Many I know use multiplier numbers... some people use spreadsheets or programs... what say you?

Basically I just signed up for the Joint Venture program with Richard Roop who leans towards owner financing using creative strategies and a long term hold approach.