Hey Zeke, There are tons of different loan products so it will be all about finding the one with guidelines that meet the needs of your scenario.

On a separate note, I see that you're a lender, do you have provide loans for properties in the NC or SC area?

So, typically you as a principle have to personally guarantee the loan.

Thanks in advance Florida is a super lien state, so depending on when the condo was created the entire lien amount could be owed by the buyer or a portion (I believe lower of 1% of the purchase price the person being foreclosed upon paid or 12 months HOA fees, whichever is lower).Definitely will want to look into that.Chris, that 1% of the loan/12 month cap is only for the foreclosing lender if They get it back at the auction.

so, you'll be paying off the interest on the HELOC with your own cash, and then hopefully the property will support the other loan. 

You cannot assume the loan under FHA with the intention to "rent" the home.

Equity will take time to build.By the time one has paid off the loan, the house would worth, say, 2 million dollars after 30 years.

It was a standard local realtor and lender deal for a first time home using an FHA loan.

I have tons of experience inspecial assets from inside of banks and I run a company that does, among other things, purchase non-performing loans and work them out (for all you that are trying to purchase them, we're not sitting on any right now...just saving you the question).

I can get a VA loan but again my debt to income with being on this house with my girlfriend and new car is making it hard for banks.