@Jeremy Taylor hey Jeremy, it will vary state to state- but a good rule of thumb is 3-5% of purchase price for title taxes insurance etc Where are you looking?

The 50A breaker on 8ga wire is surprising, and from my experience incorrect. 8ga wire should be protected by no more than a 40A breaker (unless dealing with certain loads like motors... but that doesn’t apply).

Only other thing to worry about is estate taxes which at 10M exemption don’t apply to most people

You can ID using the 200% rule and I believe there is a third option. 

However, with all due respect you have about 20 podcasts to listen to and about 2K forum posts to read first.Learn a little, ask a question, read a bunch, watch a video.Learn a little more, ask another question, read a bunch more, watch more videos.Get an idea, apply what you've learned, realize you need to learn more, ask a question about your idea, which leads to a bunch to read, and 4 videos.Modify your idea, apply what you already knew, and what the changes to your first idea taught you.

Overlays are the extra rules that banks put on top of Fannie/Freddie loans to limit their risk. 

Looking to use creative financing though because I'm not interested in dealing with the banks and their stringent rules.  

See if their total numbers are anywhere close to 50% rule. 

@Austin Hendrickson, @Tony Kim I don't see that requirement in the actual bill where you can the find the link here:  https://www.congress.gov/bill/115th-congress/house...Special rules apply when capital gains are used to invest in an OZ Fund but nowhere does it specifically state that capital gains must be used. 

The liquidity requirement varies from lender to lender, but  the general rule is 10% to 20% of the loan amount.. so, If you’re wanting to borrow a million dollars, you have to have at least $100,000 after closing; $150,000 or $200,000 is even better.