(Lurkers: good example of why threads/podcasts/content/etc from a long time ago, that pertains to mortgage guidelines, should always be ignored)

We did a 15 yr mortgage so we've built some good equity.

@Linda WeygantWe just put a mortgage on our SFR that is owned in our SDIRA. 

Negative equity mortgage.

I know that has implications - e.g. not knowing mortgage balances, not tracking depreciation, etc.

I like the Fannie Mae just a little better because the mortgage insurance is cancellable where as the mortgage insurance on the FHA loan is not.

I'm currently working a 10-year plan for retirement, at which point I would like to relocate (to the Outer Banks, N.C.) and allow one of my sons to take over the mortgage payments on my residence (financed at 3% thanks to a loan mod from several years ago).Credit is okay but not great.

if so you are now the bank.you want a mortgage or Deed of trustand a promissory note.you can get a 3rd party appraisal if you wish or you can establish your equity protection on your own.then you need a lenders title policy when you close.pretty simple stuff really.

For that matter, what are the lasting personal effects of foreclosure" - Do not quote me on this but I believe it is on your credit report for 7 years and you cannot get a mortgage for at least 2 years.Hope that helps you a little more.

(At times only putting 5% down in each deal, under a certain ARV)But for a new investor I would use these numbers, and if you get something cheaper, then great. 12% and 2-3 points is pretty standard for someone that hasn't built a track record, yet.