Though it might be naive, I was thinking of a buy and renovate project that would cost between 150k and 200K.Any recommendations and/or resources towards this goal would be greatly appreciated.

Hey Havan, It sounds like this would be your first rehab project.

Financing with the HVAC company usually comes with hefty costs and interest rates.

Purchase price: $81,000 Cash invested: $210,000 Nearly full-gut rehab in the Captain's Landing Subdivision.

I'm wanting to purchase and rehab or build in rural Ga but would like to talk to a good loan officer who can let me know if the location and me qualify for a USDA loan?

The seller benefits from the spread between the interest rates of the old and new loans.Agreement: Ensure a clear agreement on who will be responsible for the existing mortgage payments and how any arrears or defaults will be handled.Seller Second Mortgage:Structure: The buyer gets a new first mortgage to pay off the existing loan and a second mortgage held by the seller for the remaining balance.Consideration: This may require refinancing the existing loan, which can be costly and may change the loan terms.I hope this helped.

You are allowed control over who pays what costs through control panels within the program… so you can control who pays the fee to screen a tenant and how much you charge for that service as well.  

I have never purchased a home before but in the town I would potentially move to renting makes little sense do to the cost of housing prices.

s, first rent of the newly created unit must be equal to the combined rent of the two previous RS units..in addition, newly created unit will still be regulated, NYS senate just passed bill S2980C..Substantial rehab is the only remaining strategy, which is not cost effective in the current market

Just make sure that you understand the maintenance (foundation and roofs) and tax/insurance costs that come with owning property in Texas.