I am currently in the process of obtaining my first buy and hold property..my only dilemma is which route to go in order to finance the property..to give you guys an insight on my scenario I have good credit (740+)..access to down payment money (10,000-15,000)..no prior investment history..Im not sure if I can do a conventional loan because my debt to income ratio may be too high and from my understanding (correct me if I'm wrong) Hardmoney lenders are typically better used with flips and rehab properties..can anybody help me understand my options to financing my first buy and hold property😩..thanks, Shane

They only require a 10% down payment on the purchase price and fund the rehab costs.The left shows the numbers for one property if you were to rehab and sell within 4 months.

For example, an FHA requires only 3.5% down, but the dirty little secret is that buyers can receive up to 6% in seller concessions, and add to that another 4.5% from down payment assistance programs. 

I thought that was the down payment, but it's the price of the condo.

Chase bank recently requested I add this into the listing agreement (LA) I have with the seller:  "SELLER MAY CANCEL THIS AGREEMENT PRIOR TO THE ENDING DATE OF THE LISTING PERIOD WITHOUT ADVANCE NOTICE TO THE BROKER, AND WITHOUT PAYMENT OF A COMMISSION OR ANY OTHER CONSIDERATION IF THE PROPERTY IS CONVEYED TO THE MORTGAGE INSURER OR THE MORTGAGE HOLDER.

With the rent covering interest only payments on this kind of loan, I would only have to cover minimal repairs to get units rent ready (prior to getting them occupied if they are not already).

Simple weekly payments my customers can handle and not get in over their heads As well as rent to Own the land they sit onIn FL they would be separate according to Atty as they have not been petitioned to be conclvertes into real property yet 

Having that option can be a huge help with your mortgage payment and property value.Regardless of what you do, I would continue to invest out of state.

Our total mortgage payment is $540/month (tax/insurance) and receive $900 rent.  

It seems like a good way to finance your earnest money or your down payments and then refinance?