Down the road, you may be able to qualify.If you have taken hard money or private loans, ask those lenders to "report" to credit bureaus.And always go talk to the smallest, most local bank. 

Spend a couple of hundred bucks and talk to a landlord type attorney.  

It is better to lock interest at historically low rate (4.7%) using government to back the lender than find your "private" bank failed his obligation leaving you with nothing.

Hi BP community!I have an honest question about what option should I use to buy my 1st investment property.I just started my new job 3 months ago and I have a good credit history. I know that from podcasts and webinar...

If I were you, I would learn all sorts of things about personal finance and real estate investing, sure, but I would spend a lot of quality time (and money) on furthering my education and having a social life that includes going out on a lot of dates.Here's my reasoning: if you look at all the millionaire households in the USA, as of 2009 95% of them are headed up by a married couple or widow/widower.

@Evelyn Tilman are you talking about a JV with the seller...your (or private) capital pays for and completes the reno, you list as the agent, and split final proceeds from the sale?

This document being private and not recorded, should not trigger it.

If you can wait, I would spend this weekend looking at open houses in the neighborhood or in similar neighborhoods in Canyon Lake.

Department of Housing and Urban Development (HUD), covers places of private accommodation related to housing.

However, I made the argument to listing agent that they should want to spend the money at the very least to simply drain the basement water out since it's still an asset that is slowly deteriorating and losing value every day that the water sits there and investors/buyers will not want to take a risk on a property with a question mark like that.