OR you could move in, borrow enough owner occ financing to buy another rental.

80k paid back on $67k borrowed say for 4 months?

Some banks will overlook this, because even if the property fails, the borrower will likely not default.

I don't do section 8 but 1 of my places has some neighbors who are. on the program. last summer, 1 evening, i was trying to rent out the place; there was a nice couple w/ a baby coming over to look at the unit. they were outside & I met them. the neighbor, section 8, with her door wide open, was singing (very badly i might add) at the top of her lungs. maybe she was hoping simon cowell was stopping by?

She may be able to borrow $50k from the 401K without paying tax on it.

I took the mentally that once I did the switch that's there no going back and wouldn't stop until I'm where I wanted to see myself in life.best of luck with whatever you choose.

with this approach you would double your money in under 7 years and if things did not work out as anticipated you would have more than enough income to pay borrowing costs.Appreciation in these markets would be a bonus , you make your money on the rental.

I'm basically trying to stop any expenses from occuring.Thanks

You can normally borrow money from your 401k at competitive rates and pay yourself back or you could take a traditional IRA and roll it into a Self Directed IRA and invest your cash in real estate.

Could he stop paying the mortgage to ruin my credit?