If he's not licensed and insured then it's an accident waiting to happen.

Go to a LOCAL bank and Get a line of credit on the equity of my current home >  take that line of credit to a mortgage lender and purchase the house > wait six months, get a line of credit on the property I just purchased to pay back the line of credit on my home. 

Did one SFR and waiting to see how it performs.7. 

I have to put down $2500 to reserve it while waiting for my funding and I believe I can back out at this point, but that’s more than I’d like to lose if it has an obvious issue. 

In short, real estate has worked well for me - without expert planning and investment strategies - and I can't wait to see how well things go with some added effort! 

Maybe that was pending for part 2 or 3, but I'd have to ask why wait to get to that? 

Hey Duane, I know it can be hard to wait. 

Im a small company so cant handle months of holding cost if I can help it. .Realtors and Investors tell me to wait about a year(almost there) & people will start buying them again, so your time frame may be perfect!  

Hi,I spent around two months waiting and hoping that someone will reply AND answer my question on the following topic I did:https://www.biggerpockets.com/forums/311/topics/55...but noone helped.

The reasoning for doing this is I hear that FHA loans and other traditional mortgage loans takes much longer and are given less priority to sellers and I don't want to lose out on any good deals based on waiting for a loan approval.