I had started by focusing on areas in the West End (Short Pump, Tuckahoe Village, Wyndham, Innsbrook & Glen Allen etc) looking for properties in good school districts where I could focus on attracting young families, looking for good school districts that did not have the down payment to buy in to the neighborhoods. 

Positives from an investor's perspective:- Leverage and Appreciation: By opting for a 20% down payment, I'm leveraging my capital.

My wife and are eager to get into the relistate game but are working to gain experience while we build up a down payment to start house hacking.

One partner would front cash for renovation, and the other would front the down payment.

They mostly just want to see most recent bank statements to ensure you have proper funds for the down payment and portion of the rehab budget to start out prior to requesting your first draw.

Then, depending on if you or your wife have a traditional day job, you'll definitely want to consider making estimated payments to avoid underpayment penalties. 

Should the time 0 investment only include the cash investment (down payment) or the full purchase price (down payment AND mortgage amount)?

I'm not sure what the best approach for this is. my lender is away so I didn't want to bother him till he returns but can the closing close be rolled into the payment?

Hey i was wondering if anyone knew any dscr lenders that would be willing to take the 2nd position on a loan, i have a property in Oakland california where the seller is willing to finance 85% of the purchase price at 5% interest, The asking is almost 4.6 million on an 18 unit apartment, i dont have the down payment for the remaining 15% which would be 689,250. the seller is willing to come down on the price and at market the apartment brings in 41,255 per month, tenants pay thier own expenses. i tried calling a couple of lenders but they said they wouldnt take the 2nd position or would only finance until 90%.

Freddie Mac: "The appraiser may also need to consider whether the income approach, cost analysis, market surveys or other methods are appropriate for supporting adjustments.