I have some funds saved because I was thinking of purchasing my first home and came accross some videos on youtube about getting the best deals on houses.After continuing to watch many videos and read material I think this is something Inwould like to take my first steps into.

@Brett Kirchoff Does Anchor Title (or any title company in Mobile) allow assignments or double/simultaneous closing (where the funds from the B-C transaction funds the A-B transaction?

For a 506(b) fund, investors self-identify as accredited or non-accredited but sophisticated.

This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

Use that $130,000 and use it to either flip some houses and grow you cash or invest those funds in some rental properties.You can even buy turnkey rentals out of state.

They are telling me they can fund purchase/rehab and down payment assistance for 0% for 12 months. 

Would love to leverage it all for 25% down on multiple deals, but since we don't have very extensive real estate investing experience, thought it might be best to start with one property and refinance to have funding for the second property a year after the first. 

Right now, I think that it would be a great idea to build up capitol through wholesaling and then use that capitol to fund buy and hold rental properties.

You will be required to show a proof of funds if you do decide to make an offer otherwise your offer will be rejected.

Also, we currently have @$30k in liquid funds, do we need access to more than $50K for these types of ventures?