And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

I have researched though and it is best to set up the correct business structure before purchasing so you can utilize as much tax benefits as possible.  

I recommend hiring Benefits Mall to handle this all for your for a nominal fee.

But I see the benefits of REI and want to take part.

If you are going to owner-occupy, you also want to benefit from the OO preference periods offered by HUD, Homepath, and Homesteps.

Does this sound like an FHA loan would benefit me more?

@Kris Haskins and @Jay HinrichsI never heard of that before it's like "owner financing meets derivative contract!"

But they will do sub-5% interest rates and better terms (5yr, 7 yr) and no pre-payment penalties.You go with B2R, First Key, Lima or any of these "soft to hard money" lenders only if you've been rejected by the banks.Again, if you have the benefit of time, shop around!

And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

How did you derive the $66K valuation-- is that a BPO as-is value or a ARV?