Failure to abide by the stay is a violation of the law and carries stiff penalties.  

Otherwise you are correct, if it was an investment it would be 20%+"-However, we must not forget that one must still qualify to carry a loan on a $600k property!  

Your buddy should know better, he needs to hire only inured subs, and carry his own workers comp policy.  

I am hoping that you can help me to find a way to get started with no money down, I have a seller that is willing to carry a 700k loan over a 35 year period which is great but  he wants 100 k down.

Also, this type of property will take some time to sell I’d assume, so carrying that mortgage for up to 6 months is not optimal.We have other properties(commercial) as well as a business (car wash) that remain positive cash flowing/profitable.  

@Brett Wolk As other have stated, using age do deny a loan is a FHA violation and carried penalty.

Income - expenses - depreciation = taxable incomeif taxable income is still a loss you can carry it forward until you can offset profit...even if it's at the sale or years later. 

Use $2,000 as a down payment on a mobile home that needs work, another $2,000 for repairs and remodel, and the $1,000 for carrying costs and incidentals.  

Several FSBO but no mention that they would carry a contract.  

You could consider getting 10% down to the bank and having the seller carry a 10% second mortgage.