I'm in the last section of the pre-licensure course going over adjustable-rate mortgages (ARM).

Purchase price: $78,000 Cash invested: $25,000 Pre-foreclosure property.

If they figure out what they are afraid of, they can work out what they need to in order to proceed.

I've been pre-approved for a property up to $200k.

Due to my cheap assery, preferably like to keep our mortgage within 1/6th to 1/8th of take home pay, and set our pre-approval for about $50k less than the listed price (house flipping intentions).

Some recent alternatives we’ve used to supplement real estate investing include: Turo.com, and neighbor.com.We used neighbor.com to rent out the extra land for people to store things on until we develop the rest.

It's amazing how well even a lackluster deal can work out over time, and I'd bet that yours is better than my first one :) 

If you are interested and able to work out something like this, your income may be able to qualify you for a purchase (depending on the market/price).

If I were to sell it, we'd take that 150k profit as a down payment and 1031 it into something that would work out to cash flow more (I'd add some savings I already have to it if necessary).

I have saved about 25k and been pre-approved for 430K and will be using the VA loan for my first purchase of owner occupancy.