Any competent lender (like the one you will refer to your tenant) will give someone  viable 3 month plan within 3 minutes of looking at the non-consumer-facing credit report pulled by said lender.If it's beyond the scope of 3 minutes / 3 months, then you're looking at professional credit repair services and 18+ months.

They are looking for "modest financial freedom" or simply the ability to quit a job they hate. 

Save your money, no new cars, no wasting your cash consuming new CRAP...invest!

Analyzed the investment with BP calculator and made offer that would allow the property to have solid cashflow at modest rents with plans to raise rents.

I certainly think learning to crawl before walking is the best path as well however I was hoping I could invest my seed money and live of the return modestly until things grew without having to get another job.

We live in a modest home (1600 SF) and drive older vehicles.

Hi @Kenneth McCormick,Inter-generational wealth by keeping the real estate "in the family" is much stronger in the SF Bay Area than most places, so I've become an accidental expert in this due to consumer demand.You actually checked all the boxes to be able to get the best financing deal possible:- Owner occupant.- Immediate family is seller.- Lots of equity in the deal.

Rates, based on info from local property mgmt companies, also stayed somewhat flat or had very modest increases.

It is a great option if real estate becomes more time consuming.

So this is more of a cash flow market I am looking at with some modest appreciation over the long term.Houses range from $90 - $150 K.I am thinking it might be better to outright pay cash on the first property.Why ?