Anything you can truly own is a very strong position to be in.As to one thing to do with precious metals - an idea that came to my mind that I can't condone was get as many credit cards as you can, use them to buy precious metals, convert the precious metals back to currency, use the currency to purchase income producing assets free and clear and if Armageddon hits - default on your non recourse credit card loans and ride out the 7 years of "recovery" when there's going to be little to no credit available anyway and start anew 7 years down the road when you're credit record is cleared out and you have appreciating, free and clear, income producing assets....with a clear credit record.

That happens so much when your dealing with other investors that are trying to sell their non-performing assets.

Jerry,This property may be difficult to cash flow given the numbers you provided.Also, investing using your IRA (once it is rolled over into a SDI-self directed ira) is an option, but if you do not have enough to pay for it all cash, your only option is a non-recourse loan which would require a minimum of 30% down + closing costs + resereves.

Alfred, UBIT applies to a non-profit entity like a university bookstore.

A mortgage broker told me a few days ago that on a NOO property (non owner occupied) most banks require 20-25% down.

.- What about lawn care, accounting costs, legal costs, termite inspections/treatments, advertising, utilities during vacancy periods, etc?

I actually prefer to find the local Wholesalers, find out what they have available, get a non-exclusive option on their best deal and then market that to my buyers list.

We purchased a non performing note, first position, on a SFH in Feb 08.

Has anyone done a HELOC on a non-owner occupied investment property lately?

These types of homes will usually be financed with a non-owner occupant loan with 20% down, or on a Zero Down program like my company offers to qualified investors.