This worked and the lender and title company proceeded with closing the refinance transaction (now my wife thinks I am some sort of expert, ha ha ha).

I've got a deal on my radar, but don't know if I can swing it without some sort of seller financing...and even then, I'm not sure I have the concept down 100%.To make the numbers easier, I've rounded everything off, but these are close to what I'm assuming right now:Asking Price $400kExisting loan $288kAssuming that the $400k is a reasonable price:If I were to try and get a bank loan for that amount, I would be required to put down 20% or $80k (which I don't have).If I get SF, I would get a bank loan for the $288k which is less than the 80% LTV, and the seller would hold $112k.

I’ve seen duplexes lower than $200,000 that are “homepath” – might be best to seek out a local agent who is familiar with this stuff.The only issues with these deals is regulations (which are good and bad), you will need the money, cash reserve of some sort as well as tax returns, etc. to qualify.I purchased the home next to me on an owner contract for a very good deal as it wasn’t for sale and controlled by a family trust that just needed some creative problem solving to get rid of it.

Becoming a teacher wasn't my first choice either, I sort of fell into it.

This is sort of a long post with alot of numbers but I would like to get some other people's views on this strategy and I appreciate anyone that takes the time to examine the details.

If I am looking to purchase a $500,000 property, and need to raise $125,000 for the equity component from private investors (at 75% LTV), how do I entice investors without promising them any sort of collateral?

Seems you're of two minds here:Our rules are actually VERY reasonable and they do not go out of their way to enact crazy laws. andI feel that houses having WHITE OR BROWN would be OK.You are sort of stuck with only choosing one of these options.

What sort of building is this?

@Annette Hibbler Pre 08 paying the GC and trusting him to pay subs was common practice... as builders and GC's went down like fly's in the great depression.. many builders and GC did not pay the subs.. and this created all sorts of problems..

If you dont spend the time to manage the rehab your looking at all sorts of problems and setting yourself up for failure:Contractors not doing it the way you want itRedos then cost you big timeWorkers standing around doing nothing without directionThefts of materials, tools, etcWorkers not closing up or locking it down well enough and break ins happenVandalismMost people working on your home just dont care as much and get lazy, again costing big time and not getting the same quality as if you yourself were doing it.