Previously, that 2.5% could have served as a powerful negotiating chip, either to bolster your offer or to pocket as a credit.

  Hitting up on Grandma or maxing out the credit cards as the scammers advise gets old to hear. 

I am also aware of using business credit cards and liquidating them, however is that a good route?

We both have great credit scores (low 800s) we own a property for collateral.  

I'm trying to decide between renting the basement as a long term rental (and figure out something with the yard and utilities), do a short term rental like Airbnb or Furnished finders and give upstairs a utility credit, or leave it up to the current tenants to sublet it on Airbnb or find another roommate (so I don't get calls about tenant disputes since they will have chosen them). 

i dont consider not being able to find an attorney a red flag, is just that they're not insured to do these kind of transactions i found out. i'm sure that other investors are doing subject to deals in north carolina and they're probably using an attorney, or this can also be done by you without an attorney, just need an attorney to prepare the deed. as far as the seller is concern, they have three choices when facing foreclosure, they can catch up their payments on their own, get help from an investor to make up the back payments and take over the loan and make the monthly payments until they're able to cash out and pay off the loan, and third,just go through the foreclosure and completely ruin their credit and i mean very bad credit. 

Do you recommend having additional savings in the bank, if so, how much? 

& Birmingham, Alabama.In addition there are tons of other turnkey markets out there besides those listed above.

Lastly If you don't intend to live there you might consider a house manager, and definitely consider additional cleaning costs and parking.

In the paperwork, I show that the lessee receives a small credit towards the purchase price.