Welcome aboard @Shawn Young Low Equity Deals or a little bit underwater houses, if you are acquiring to keep, shoud be Sub2 (Subject to existing financing), now you have the deed.

Sam Leon if she truly has enough money available, 6 months up front plus deposit, then the second 6 months due before the end of first 6 months.If she is able to acquire a job that shows 3x the rent in gross income before the second 6 month term is due, then she can pay rent like normal.

I acquired the house 3 years ago for 27k all in and just recently sold it for 99.7k.

I totally understand the normal route of acquiring funds from a HML, I was asking if there was a way of getting a lender to agree to some kind of figure in order for me to know I PROBABLY have the funds available before I made a move only to fall short on funding.

My goal is to acquire enough passive income through rental properties to be financially free.Thank you for considering my question!

Just think about how much knowledge you have acquired along the way!

My take is you would need to acquire this property in the range of 140 - 180K to give you a fighting chance of being able to upgrade it to be a modern, efficient, and healthy home for your tenants.

There are three tips:1) Use as little of your money as possible to acquire assets while making sure they cash flow.

What type of properties are you looking to acquire and in what areas of town?

Seems you're trying to do the "investor thing" with you family.The way I see it, if you are thinking you will acquire the home and make repairs with the intent to profit, that profit has to come from some place it doesn't come from thin air and the value of acting as a contractor on such a small repair job is hardly worth the effort.That means the only way to really make a profit is to buy it low.