. $405,750 is going to be a conventional loan, but $408,237 is going to be FHA/VA.Both statements will hold true about 99 times out of 100.I haven't read/heard of a lot of people being successful with this strategy (or completing an assumption at all, really), so if you are successful please post back with your experiences!

This should give a lot of potential investors something to think about, as it could completely revitalize the neighborhood.Alderman Arena, in my opinion, has great intentions for the neighborhood but has deserved some criticism, especially in how he's handled the development of the 5150 N Northwest Hwy project.

It’s easy and completely passive, but I have no control and am not learning how to repeat the process on my own.So there’s my background.  

They have the added benefit of not hurting the pocketbook too.I've learned more and more that it's possible to get burned following strictly these rules, it's good to hear that we have to maybe pull back on these in an effort to at least secure a first house.I'm in complete agreeance that i need to get my feet wet and mostly look to learn (i just wish it didn't come at such a high price, but too bad eh?) 

I’ve purchased a home and have completely renovated it while living in it (will probably never do that again).

Funny that around the same time he had been falling behind in rent so ended up moving anyway but be careful of blowing it completely off, as you see in comments in some cultures these silly ghosts are seemed very real and as crazy as it may seem no one wants to be on the wrong side of discrimimation law.

You don't want to give them complete control. 

Until then, we'll just keep on making money on it.I'm in a different situation than @Omar Khan, in a completely different part of the USA.

We will be house hacking it by moving into the basement 1 bedroom upon completion.

I completely agree with @Paolo AgostinelliPittsburgh has pockets where you can pick up properties around $10-$30k and other areas that a $200,000 house needs gutted for resale at $400k+So many opportunities and options.