If you have access to $30k homes, can afford the costs of renovation and the costs of the resale while remaining profitable you're only a "friends and family round" away from being in business.This is a sum of money that banks are just not going to write short term debt on without excellent credit and collateral.

The grittier matters of concern is likely to be your mortgage rate and consequently your monthly payment and other monthly expenses and to what extent these expenses are completely covered from rental income (think debt service coverage).When researching, you of course want to look into the FHA loan limits on a multifamily as it applies to you and where you are able to buy in/at per the limit.

Once you have that income number in place you can then look at expenses and debt service on the property and determine if it makes any sense.

Hello BP, sometime ago i read "The definitive guide to using seller financing to buy real estate", and only thought that to prevent due on sale clause, that would mean i can only used this method on debt free property.

  :)As we only have 1 unit currently under possession in our company, (LLC formed, funding to be soon), It's really about the paydown for all of us involved.5-10 year timeline means major equity to us, unless of course, the bottom falls out and they become worthless.

But my ultimate goal is to apply the buy and hold /"BRRRR"(buy,rehab,rent, refinance and repeat.)plan to Achieve my financial freedom .Well, taxes are an expense you take out BEFORE debt service; that is, it's part of the NOI (Net Operating Income) calculation.

For those who have a primary source of income that can support the debt, a loan might still be possible. 

If he is short on cash, can he get a loan, borrow money from relatives or friends, sell some of his possessions, pawn some of his belongings, get assistance from a social service agency?

Banks know there are investors out there so unless your debt-2-income, credit, over-leveraged (multiple mortgages perhaps barely making payments), then I don't see that the banking industry sees an issue.

After that, you just refinance your cash out or the holds, to buy the next hold, then refi out of that one, to buy the next...and so on. you mean, start by flipping and generate enough money, then buy the first property and use refinance.which is, if im correct, a loan from the bank that can reach top of 50% of a property value. that property need to be listed as my possession.