@ jay hinrichs - you don't know that the collapse in Vegas and Phx was caused solely because construction worker leaving... that is simply not true...Having a tons of OOS investors was another contributors.... there are many many studies/articles supporting that...When resession hits next, those OOS that can't find a tenant will bail... that was what caused the collapse of Phex and Vegas, at least partially....

If you could find that close to you, you could be looking at:80*.8= 64k-50=14k usable equityWhen I purchase a new property I let the bank know in advance that I want to use equity from another property to pay down payment financing and closing costs, and they roll it all into one new loan, sometimes I walk away with cash in hand sometimes I do not, but you have to make sure you are buying the new deal at a price that can support the 14k add on to the price. 

There are great providers here in Indy and a lot of support here on BP.Let me know if there is anything you need.

I fully support @Dany Namou 's comment.

Aside from an FHA primary you're going to have a tough time I think, and your market might not support that. 

This is my first time purchasing from court house steps and I'm looking for as much support/knowledge as possible.  

It was very informative and supportive.

It was very informative and supportive.

So I would turn them down unless he is getting financial support from family due to being a FT student, which he probably is.

I'm pulling together a small network of BP members in the Sacramento area to support each other through the process and so wanted to extend an intro and invitation.