As always, the most detailed and complete answer from "The Black Belt in Real Estate Taxation".That's exactly how I imagined it worked. 

You should never ever ever provide a loan on real estate without it being secured.

You could take that same $70K plus what you planned for that $680K down payment and buy 3 investment rentals in states like FL, TN, IN, OH, GA, LA, even up on the Oregon Coast just above you in CA.Most of my customers live in CA and none of them invest in Cali instead they buy in the states I listed above.

@Kevin Sobilo, in Florida an HOA can foreclose without clearing the first mortgage.

Hi all, I am looking to get into real estate investing with low funds and the ability to spend around 2k a month on the business.

I am talking about more traditional real estate.. like when I am selling one of my new constructions they must have a pre qual from a lender I know and trust.. if not I wont sell it to them.  

Good morning just thought I would catch up on the forum—investor in El Paso, Texas. So far, it's been a marathon for me I've had my rental for two years now and have been wanting to buy another one for the past year. ...

Hello everyone,I am a seasoned property manager in Central Florida.

Dwelling deeper I found that many wanting to wholesale believe that wholesaling is either real estate investing or a real estate business while being a real estate agent is just another “job”.  

I’m Todd, the newest addition to the real estate circus.