I was recently at a seminar where they talked about creative uses for housing like making an upscale nursing home,  home for disabled/homeless veterans or a house for special needs adults.

I think Visio has some creative products for folks with little or no W-2 income.  

I'm expecting to do a traditional 20% down mortgage (and looking to do seller financing for the 20% down) but am open to other options including a VA loan or a more "creative" option.- The seller has 2 duplexes that appear identical in Columbia county between Madison and Lake Wisconsin.- The pro forma rent is listed for $975 / month (estimated from gross income).- Each unit is 3BR / 2BA,1200 square feet.  

If you're some kind of real estate genius and know how to time the market so you can sell your properties before a down turn, value-add on each buy to get a permanent YoY return of 20%+, or happen to know how to count cards in blackjack, ignore all my prior advice.

In my mind, that puts me out of real estate altogether, and I want to make real estate a serious component of my portfolio.Is there a creative option #3 that doesn't entail foreclosure (I'd have to pay those taxes) and my income is sufficient enough that I don't think they'll forgive it very easily.Thank you!

Seth Williams over at RETipster has some good ideas. http://retipster.com/creative-uses-vacant-land/

Banks won't lend on flip projects for lots of reasons but it doesn't mean you can't get creative, find a partner etc.

I'm Donna, I'm passionate about creating passive income streams, attaining financial freedom, personal development, entrepreneurship, breaking through scarcity mentality and creating a life with MORE fun, creativity and freedom!!

Also look at creative financing, tax strategies and what is the STRATEGY you want to use... and you are comfortable with... some people just start with liens, because that is less risky and less money... and others are looking for the homerun fix and flip... 

We foster an environment of creativity and learning.