We have the space and plans, I just want to secure financing before getting started.

I would look into house-hacking with a 5% down CHAMP loan or a 3.5% down FHA loan.

Attempting to gauge participation in the member loan for the Austin 4-pack managed by RevisionMasters.

@John Mason, lenders will look at your credit history, income and assets held to determine your eligibility for a 15% down payment conventional loan.

It is a real violation though as far as I can tell:"OWNER HAS 48 HOURS TO SECURE PROPERTY, 60 DAYS TO CORR EXTERIOR VIOLATIONS AND 180 DAYS TO CORR ENTIRE NOTICE W/APP'D MATL'S PER CITY CODE.

Duplex is a great first step into the REI market if you can buy one that you can put in a little TLC/renovations, you can quickly refinance in as little as 6 months and buy another property keeping it as a rental.Duplex allows you to use the other "Unit" rents to qualify for the loan or higher loan amount.Rent is a waste of money when you look at an amortization schedule and payoff based on a 5 year model your rental has (ZERO) equity and a home has money you can pull out.

Then I thought I could buy the house from my dad for $300,000, which would include the money needed for the rehab instead of doing 2 separate loans.

This is because you can't get an FHA loan for an LLC and thus have to put down around 20% for the loan.

I know a few agents, a few contractors, and a real estate attorney, but need to build a relationship with a good lender who can do competitive DSCR and rehab loans.

It was a little frustrating because I'd been in communication with these lenders from very early on, sharing all details with them from the start and repeatedly remarking on the Trust ownership, and stayed in contact with them throughout the discovery process as I firmed up everything on my end, and now I have the plans, the contractors, the OOP funds, and basically everything else ready to get started within 1-4 months, but I'm back at square one re: loan.