Or buy something that needs some love and some hard money lenders will fund up to 90-100% of the purchase and rehab.

Purchase price: $110,000 Cash invested: $30,000 Hobby Farm On 10 acres2300 sq ft house with 8 out buildings - Large Barn, Animal/hog barn, Mid-size machine shed (2) 25' x 35' / 30' x 50', Large Machine shed 60' x 60', Grainery barn, Entertainment Barn, 3 car garage What made you interested in investing in this type of deal?

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.

I purchased a rental unit and did some private funding in 2016, and I will probably expand this business by doing more deals.

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.

so, it could be ( am throwing out random numbers) a purchase price of $350K with $10K down, and then 30-year amortization at 6.5% with a balloon payment due in 5 years. 

I don't think you would actually be able to purchase and maintain the policy with $750,000 replacement cost if they think it would cost $1.3 million to rebuild. 

I am currently helping a VA buyer purchase a home with an assumable VA loan in Skye Canyon.

That ensures you don't spend it on other things and that you know exactly how much you have available to spend on the next purchase.

For a purchase generally application would be to review an ID, asset statements, and LLC docs if neccesary.