Further, he is correct the FNMA program being cited is the incorrect product for this scenario.

With the mortgage on the house we are living in (our first home), we can afford something max of 50-60K (down payment + standard mortgage).

Keep track of all the buyers who don't bite during the rehab, and contact them again to see the finished product, if no one buys during the rehab.

All kinds of agreements can be reached in RE related areas as well.We also kick around many legal aspects of RE in the forums, financing issues, landlord-tenant law, title issues and other things that can get you in trouble if you're ill advised.Most in RE that I see on BP are new, I'd have to say getting legal advice in forums is a big mistake, while we may have seasoned investors who have been doing things for years, we all fail to keep in mind at times that all RE is local.Most seek advice as they seem to think they can't afford an attorney.

I am looking to get into something large enough to afford professional management and onsite personnel.

A lack of financing options didn't make the plan work out at this time though.Instead, my wife and I are thinking the first place we buy should be local and would purchase a multi-unit house, duplex, triplex, etc. in a fairly affordable neighourhood right in Vancouver.Any advice for someone trying to make a wise decision in the overly expensive Vancouver?

Section 8 can be good as long as your unit passes the program's housing quality standards, but with all that student debt she'll certainly need some supplemental under the table income, if she makes too much on the books she'll lose that voucher and possibly not be able to afford the unit anymore..

There was a water line in the garage with a faucet, and i had no idea where the shut off was, It broke while i was at the home show in philly as i was promoting products that detect this kind of problem(ironic i know)..I got the alert on my phone..contacted my wife..she headed back to the house and sure enough..it was spewing out in the garage.

Buying without title insurance isn't a beginner's game unless you are playing with money that you can afford to lose.

Makes driving so much more productive.