Hi Guys,in FL,HOA is foreclosing on a house in a week - Lien of 25k.the property also has a 1st position loan (Reverse mortgage)  that also just started proceedings with no set date or "Final Judgement" numbers yet.On the details of the 1st reverse mortgage foreclosure, its only mentioned that there is 320k principal balance due.The original note of the 1st was issued 2009, with a total sum of 650k, payble up to 2081 (!!).

With a FHA Loan I could easily afford a 300,000-350,000 property and start my REI journey.

We are new and have one property right now  but want to find an option that will grow with our business. 

I’m not currently working so my income is basically the 300k + (28k gross or 15k net) from another rental property. can I do a cost segregation to offset my tax bill incurring from the Ira withdrawal for 2024? 

Are there lenders that will do a cash out on a property with no mortgage?

Also, there is a smaller, but very active group in Delaware County called "Delco Property Investors" or DPI.

Ultimately, I'd like to go into MFR, LTR, but I think maybe I should walk before I run, so I'm evaluating the markets for both MF and SF properties.

I want to flip a property while I am here.

Any referrals for agents, property management, and other area professionals would be much appreciated.

This BP topic, Total Available Market - 2, 3, and 4 units, describes the Raleigh market for property that meets Fannie Mae 1-4 Family underwriting.