Do you think that paying 30-50% of your salary on rent is a stable situation?

Hey @Travis Howser,I'm in a similar situation, US citizen living and working in Europe.  

First, you need to thoroughly document everything, starting with when and how you became aware of a problem.Second, you need to verify the situation.

Good lesson I'll have to keep that in mind when if I ever have the situation come up!

If anything happens to the property, it is the lien holders loss...title transferred, but there is still a lien...this is a very problematic situation.

Traditionally banks loan on appraised or purchase, whichever is lower...you may be describing a hard money lender...that's a different ballgame altogether...It's impossible (in 99.999%) of all real estate acquisitions to use financing and acquire a property with no money out of pocket...best you could do is HML if you're flipping this...you may scrape by with points and fees...If you're using HML you will have to sell the property or settle the debt with a re-finance...re-fi's are typically 70% LTV...and completely dependent upon your personal financial situation, DTI...easy to get burned if you don't have capacity or the value is not there...and this is an expensive asset.A conventional lender can't lend if seller financing is involved...lending constraints...

@Li TolentinoThe matter should be discussed with your CPA.An IRA has exposure to taxation in two situations. 

Is there a creative workaround to start investing now, I feel like there are good opportunities that I am missing out on or is it a wait it out the type of situation?  

A master bedroom, 2 additional bedrooms, small room which we considered the nursery as it is situated off the master bedroom, and a full sized bathroom.The first floor was made into an apartment for my mother as she wanted to be secured from the roomers.

Just trying to figure out who I should be trying to talk to in my situation.