Fountain, Colorado is very close to Fort Carson.

I think that is important in case she tries to bring on legal recourse.

Currently have not closed any transactions but I have clients looking.

From closing on the land to move in day is going to be 6 months minimum based on anything I've seen.  

You'd only need to bring the difference between the balance on his loan and what you agree to purchase the property for and your share of closing costs.The term is "Subject to" which is short for Subject To Existing Liens, Deed of Trust, etc.

Worked as my own agent on this deal and having the cash on hand to get it bought was a huge lever in getting the deal closed.

Quote from @Richard Hoyte: What is a good and or acceptable amount of money to have saved up before buying your first rental property I'm aware this can vary depending on the state/area but is there a rule of thumbThank you ahead of time  Hello Richard, Your down payment amount will have a lot to do with this.If you are going with the minimum downpayment of 3 - 3.5% , you'll want to have at least a total of 10% of the purchase price (to also account for closing costs) + 6 months in reserves.

.: @Michael Tompkins get a HELOC I suppose a HELOC makes more sense than doing a cash out refinance since I would keep my current interest rate and wouldn't have to pay closing costs.

Lot of readers on here that want to buy houses with nothing down or close to it.

“Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”Vectra Bank - ColoVeritex, Texas HELOCWAFD Bank.