Are you using conventional financing?

@Jimmy Leaton depending on your situation you might want to leave the equity in the first house for now and just go buy another primary residence using a 5% down payment conventional loan.

which is fine Iv done plenty of cash deals but always using my own money I haven’t ever borrowed someone’s money or had a hard money lender typically on deals that wore 100k-250k Iv also used conventional financing before for flips and so on But recently every house worth looking at in my area is around 400k-550k for a fixer upper.

Necessary Stats:Credit Score: 740+Loan Type/Amount: Conventional/$320KProjected Income: $3100 (including me paying myself rent)Down Payment: 5%Let me know if there is extra info needed and thanks ahead of time for any advice that is offered!

Purchase price: $205,000 Cash invested: $27,112 Bought for $205,000 in the Maine-Endwell school districtMonthly rent (pro forma with 3 month stabilization) $4,800Taxes: $9,238Insurance: $2,642Gas/electric: $0 Water/sewer: $2,451Total expenses: $14,280 I used a conventional 10% down.

.- I was able to get access to private investigator software to find the true owners of these properties since conventional skiptracing produced poor results.  

Conventional loan with builders mortgage.

For example in wildfire areas here, buyers aren't able to get traditional homeowner's (or rental dwelling insurance if an investor) insurance and conventional Fannie Mae and Freddie Mae loans.

If you sell your current primary conventionally, you can take that 1.3M to buy a new primary with cash, then have the leftover to invest, but you won't have the income from the owner-carry note and your cash won't go as far on an investment property (>15% down) as it would on a primary (5% down).

However, I did go ahead and fix up the flower beds a bit.Appreciate everyone’s input as always!