I don't have all the funds needed to close. 

What was your plan to fund them ?

The closing attorney would have to hold 1.5 times cost of the install in escrow and once the system was installed and signed off by the town any unused funds in escrow would be released to the seller. 

Obviously do your due diligence to make sure you’re not buying a bad deal but any route you go there will be things you did right and a bunch you do wrong but you will learn and you will do better on the next deal and the next....... one Great way to consider is a House Hack..... you need/ want a primary residence anyways so consider duplex, Tri, or Quad.... you have the down payment funds and it could or should cash flow too..... get you a place to live, experience as a land lord, cashflow, and the possibility to buy right and refi later to pull out equity......  

Assuming a mortgage is not a Sub2.Sub2 or taking title subject-to refers to taking over legal title to the property subject to the current financing, encumbrances, liens, etc.If the prior owner is now a leasee, hopefully you structured that well and setup and fund a new tenancy as soon as title transfers over to you so that the rights and duties of both parties were clearly laid out.If they arent in a contract any more you can give them a notice to vacate and the proper time to leave depending the local tenant landlord laws in your area.

Starting out of state with limited funds typically isn't the best strategy, you might be better off learning in your current area and purchasing a house hack property, you will learn most of what you need along the way that way while having a place to live, in the worst case scenario. 

My personal credit score is over 720 and I'm trying to find hard money lenders that can fund the buying and the rehab work of some properties.

I found the rehab funding and the property, now I need an investor to come in with the purchase money.  

Hello everyone!

I’m a new investor that is looking for my first deal.

I have come across a duplex listed for sale by owner for $135,000. Both units are already rented to long term tenants for $750 a month. Location...

Hello everyone!I’m a new investor that is looking for my first deal.I have come across a duplex listed for sale by owner for $135,000. Both units are already rented to long term tenants for $750 a month. Location is S...