There has been a time push out, the realitor was asighed to me, I made a bid 20,000 less than asking, my question is there is a Credit on the closing cost, I have not questioned it yet, I'm thinking it is the reality lady foisting the repair costs at the last minute on to the closing, in the contract I signed this is the sellers responsibilitie , I have to make a discussion, should I question the financial woman on who , why and how much the credit is.

My wife and I have very stable, well paying jobs in the Washington DC metro area, but we've made the decision we want to take charge of our financial futures instead of continually trading time for dollars like our families do. 

My personal big mistakes have been - buying home with converted garage and only car port (buyers here in So Cal, especially the guys, want/need a garage), bought a house with 55 stairs from street to front door - never again, and largest financial mistake was not going with my gut and chose to go with a new agent to list a multi million dollar property rather than my proven agent or myself.

The only thing that it could do is lower the amount you can borrow for the investment due to increasing your DTI, but 10k isn't that much. 1.9% is pretty low and should be easy to out perform the debt...

The amount of knowledge is overwhelming, but I'm hanging in there.My 401k and Roth used to be my rock, literally my goal to becoming financially independent, but I'm seeing now how thin simply maxing out a Roth account is for me as a plan.

Still trying to pay down debt & get some cash for leverage & quick sales, which seems like it is taking way too long.

I'm looking into buying the first investment property, and it seems like the only thing I can afford at the moment is properties from a low-income neighborhood without putting me into significant financial risk. 

Offering to release them at any time and give them prorated rent back, gives them financial incentive.

HI Michael,the answer to all 3 is yes. since the properties are so close, one or the other would have to be a an Investment property. since this is your plan of action underwriting should have no issues as there is no means of mortgage fraud with what you plan to do. one thing you will want to keep in mind when qualifying for the new home is debt to income ratios, and having a renter with a signed lease agreement for your current primary lined up will off set the debt ratio helping you qualify with no troubles.let me know if you have anymore questions or want to speak privately! 

If you have a $100k property without debt and then pull out $75k by taking on a loan, then when you go to sell that property (assuming no change in value) then you would need to spend the $25k of equity and buy something for at least $100k - for most investors this is achieved by taking on equal or greater debt.