We took a loss, but only a few grand (not counting 15 months of lost interest).I later found out this city (Englewood, CO) and others around have a program where inspectors poke around when a newly rehabbed property goes on the market, specifically looking for unpermitted work. 

This way, you will generate new equity in the newly acquired rental, to replace the equity that you will lose in your home.

We'll have very little of that when we first launch into each new area, but I still think it will be a great value overall, even initially.

Some lenders will not allow you to put the property in your newly formed LLC.  

So I was watching the news today and Gov Cuomo is stating that if he wins re-election he wants to continue his Buffalo Billion initiative which will invest capital into Buffalo Ny, building a New State Park, some University improvements, some infrastructure. http://www.buffalonews.com/city-region/albany-politics/cuomo-hochul-launch-campaign-with-rally-in-amherst-20140523Now we all know politics so this could all fall thru and I do not want to turn this topic into a political debate I simply want to hear what other real estate investors think What will happen to the Buffalo Ny real estate market if the initiative is funded and several improvements are made to the city?

Here is my situation: between me and my nephew, we have about $28,000 cash and about $42,000 in equity of a newly purchased investment property.

The new mayor of LA has launched a program called “Great streets LA”.

If it is over priced,  newly to the market,  and needs an investor that can make a cash offer not contingent on anything then it might not be the right one.  

No problem, make a loan to yourself to be used to make offers on propertiesYou can create a note and mortgage on the house with the equityYou make an offer on a house subject to the seller accepting your newly created note.Call a title company, tell them you want to create a note on your property for, say $20,000 at 3 percent amortized for 20 years with payments of X $.

So I changed tactics a little and we found a newly remodeled duplex that already had renters.