One way to get around this is if you cover the remaining amount with your down payment. 

Hey,In the process of saving money for a down payment on my first rental property.

"Down payment assistance." consisted of raising the price and telling the people buying the paper that the people put down 20%.b. 

You'll make 36 mortgage payments during that time and since it's towards the start of a loan cycle, less goes to principal pay-down.

This number does not include other returns like appreciation, principal payments by tenants and tax write offs.

my understanding is in california, the foreclosure is nonjudicial, so it should take much quicker after first late payment, normally how long it will take to go into foreclosure after borrower stop the payment?

Yet, I don't believe I can afford let's say a 1k monthly mortgage payment.

Can I use the proceeds of a cash out refinance as the down payment for a new purchase loan?

These deals are often attractive because you can close quickly, do not have to bother with the headaches of a traditional bank, and can structure the note differently (e.g. interest up front, balloon payments, etc..).

The debt includes student loans and car payments of both me and my husband.