You have no way of knowing how long it will take you to get an offer at your asking price from another party and if you go that route, you are certain to pay somewhere in the neighborhood of 20,000 in commissions (5%).  

.$25,000 Down Payment$25,000 traditional mortgageThis makes up the purchase of the home for $50,000$15,000 plus a couple of months for repairs to get it ready to rent.Refinance the house leaving $25,000 of equity in the home and taking a mortgage for $75,000 from a third party financer and not a traditional mortgage.

I don't like the disability party which could lead to you making the place handicap accessible.

You may want to post your town home in the market place and see if you can find an interested party to partner with or flip.  

I don't have much free time to research several properties or vest several third parties - my job and my family life are very time consuming.

--First PropertyFirst Property--UnFinancedFinanced 40K at 5% 0 DownPurchase Price/ Financed Amount$40,000Rehab Cost$32,500$32,500Closing$2102.90$2102.90Total Capital (Door Cost)$74,602.90$34,602.90Monthly Cash Flow$598.33$383.60Capital Cost per 1$ of Cash Flow$124.68$104.52Capital Conserved by Financing$0$40,000Take for example my first property we spent $74,602 on the property in total that is purchase and Rehab.

I am thinking conservatively that we will be able to save up a small amount of cash every year for REI since we intend to save for future renovations on our own home, vacations, and kids =D.  

HI @Earl LouisShort Sales are pre-foreclosure when you are negotiating with the bank on the borrowers behalf.REO's are post foreclosure after a property has gone to auction and no third party bid on it, so the bank takes ownership.Short sales are a hassle to do and usually are required by the lender to be listed.  

If you want to keep this alert as is, you can change it back in your notifications settings .I rely on these keyword alerts to not be late to the party so to speak :-) I usually have BP open all day on my browser, and do not necessarily click through to a conversation through an email, but I rely on the notification from the email to alert me in a timely fashion.That said....I would really prefer that instead of changing my settings on your own and leaving it up to me to figure out what is going on (took me a whole day) and then make it my responsibility to change them back, that you would ASK ME first if I would like my settings changed.

My plan is to use private money to get the work done in under 8 weeks, and then refi.My question comes in at the refi part- is there a creative manner to refinance so that I pay the lender back their 50K (plus interest) but still benefit from the 0% interest - or is the best bet to borrow enough monies to pay for the purchase and Reno?