We will be putting $3,700 down, and borrowing $15,000 over 4 years at 5%, which is 4x the interest rate our relatives make on their savings in a bank CD, making both them and us very happy with the terms of the transaction.After closing, we anticipate ~$4000 in rehab costs to bring this very tired unit up to date, which will include refinishing the hardwood floors, complete repainting, new kitchen flooring, new counter top, new appliances, new lights, blinds, fans, toilet, etc.  

You can pull some cash out to pay off debt assuming you have enough equity to do so.This will free some cash up to overpay on your mortgage note which then helps your LTV as you pay down your balance.This also saves you accrued interest you'd otherwise be responsible for if you simply just satisfied the term and current interest associated w/ your mortgage.

(It's actually a property that I've eyed for a couple years, just daydreaming, & reached out to the owner llc during that time but never heard back). tl;dr My idea so far to purchase would be a short term 12-16 month hard money loan, 80% purchase w/ 100% renovation, with private money coming in to fund the 20% & points, refi'ing into a conventional note with my local lender who I have a decent relationship with when the first note balloons. 

I make a fair income, purchased these by saving and help.

I help and show people how to use some of their savings to create streams of income.

I'm almost done saving enough cash for the down payment and rehab costs for my first BRRRR.

The boot camp saved me $99k-mistake I was planned to make.

For plumbing, Chip Oexmann and his team at ARS/Rescue Rooter Fort Worth have saved us thousands of dollars and many headaches over the years. 

- FHA allows you to put as little as 3.5% down- For financing repairs, you can just save the money and do the repairs as you have the capital, look at private loans or use credit cards, but this is more riskyGood luck with your search!

While you're learning and saving up for your first true investment property I would suggest analyzing deals all the time, even if you can't buy them.