There is also a company called LimaOne Capital that makes loans to non US investors, 25% down payment, 8% interest rate on a true 30yr loan.

Hello fellow BP fans, I'm a newbie investing in the NY area (an hour from Manhattan). I'm seriously considering this single family that needs renovation in a terrific area and need to act quickly. I know it's usually ...

Since it is our practice to analyse a property using the posted rate - and then obtain a variable rate mortgage 2%+ lower, but set out payments as though we were paying a 5-yr fixed at the posted rate ... it will be not change for us ;-)

If you increased the down payment, would the seller be ok with it as previously agreed?

The few hundred a month (potentially) will be eaten up with one missed payment and/or problem.  

It appears to be on a reservation because the Bureau of Indian Affairs is involved, @John D. and it also appears that that it may be a contract for deed (land contract, installment sale contract) where the seller received full payment over time, but never transferred the ownership to the buyer even though it was fully paid by the end of the contract. 

This is why we are almost exclusively a B/B+ turnkey operator, it is very difficult to find the kind of deals in A areas that leave enough margin for instant equity to compensate for the reduced cash flow (due to high loan payments, high property taxes, etc).

I don't have the funds to put a 20% down payment on the property AND invest in the making the property.  

Now the even smarter way to househack is to make sure that not only your monthly mortgage payment is paid for by the other tenants monthly rent, but if you find a good enough deal, maybe you might make even more each month even after the mortgage is paid, hopefully cover some utilities.  

I would start off with fewer units (around 18) then large complexes later unless there are plenty of homes that have tri-plexus and four-plexus that are occupied will cover your debt payments and possibly allows you to live there if your situation would allow you to possibly live there.