It is helpful to have some kind of cash reserves because you're buying the property and owning it.There are properties out there that need a minor rehab and not a major rehabFor minor rehabs let's say 10 to 20% of value for rehab don't work well with the "70% of ARV minus rehab cost" formulaThe solution is to do a joint venture with the seller where you give their equity on a note and get on title, no payments on the note for three or four months, use private lender money to fix it, then list it for resale, and then at resale you pay off a note to the seller and the private lender, and make 5 to 10% of value.Go to the search bar and search any of these termsTo be a real real estate entrepreneur you need to constantly look for motivated sellers, joint venture partners that you can use their credit and their down payment money, and private lenders to use their IRA money for loans@Dmitriy Fomichenko@Dev Horn

I will continue to work hard to find the solution to my financing strategy but it sure would be nice if someone just handed me all the answers.   

Aside from the moral implications, there are some pragmatic ones as well ... operating in this fashion is not scaleable or long term sustainable.

Great solution, and it turned out great

While I think it is a good solution in some cases and in small areas  may still be a reasonable option  overall it is not a great option.

If someone could please direct me on a solution to this problem I would be so grateful.

Since the lower unit is already small I am not a huge fan of this since the heaters sit on the wall and take away from living space but it seems like the most cost effective solution I've found so far.

In either cases we would be putting 10% down and planning on refinancing out of mortgage insurance in about 2 years, after making renovations.The reason home possible is not the obvious solution is because we don’t quite qualify.

They can help guide you to creative solutions to finance a purchase.

Some will allow property held in LLC if the LLC has 2 years of entity tax returns.And if anyone is looking for HELOC on investment, Federal Credit Unions are who I would recommend that they look into.Service may not be as expeditious and great but if it solves the solution, why not :-)?