Go to your local banks and talk to them about the deal and figure out if they will refinance you, how much seasoning they will require, and what LTV (Loan to Value) they will do.

I grew up in this area, but spent the last 20 years in minstry, mainly as a missionary in Rio de Janeiro.The last two months I was a seasonal hire at Costco while I got reaquainted with life in Texas (and out of full time ministry).I am researching the possibility (with Career Counselors and Coaches) of a job in Commercial Real Estate Development and Ivestment....

Before planning this thing on my own, I'd like some input from our more seasoned users on the board.  

Then after it is "seasoned" (see below), if they will loan you 80% cash out, then you have all your money back...

My Score is between 680 and 710 because we buy and sell a lot of property.We bought 2 4plex units the end of 07 We have a short term note on each for 8 months so we can season them, and find a lender as well.We need a fixed rate we hate ARM’s seeing how much trouble people are in today.Were looking for 75% LTV 30 year fixedNo seasoning or unlimited properties is important

One advantage of a land contract would be that it would help the rehabber by seasoning their ownership.

Dont forget seasoning and its not going to be your basic SFR loan.Are sure you can?

I just saw an episode of Flip That House for the new season.

lucky to get one season out of it if that."

Next month I'm going over seas on a one year contract to rack up some cash, and maybe I'll start the real estate game when I come back, or when I get my leave.