@Tiffani Crenshaw Another Alabama fan.

In the Mortgage #1 slot we have what looks like the purchase of real property for $125k

Great advice @Joseph Landis I'm a big fan of the capital gains exclusions.

If your income changes or crap hits the fan and your credit drops or the housing market crashes again or something else happens, you may not be able to refi before your adjustable rate changes.

I am not a fan of purchasing a Residential Multifamily Property known as "House Hacking."

I am not a fan of purchasing a Residential Multifamily Property known as "House Hacking."

I'm a big fan of bulletproof.  

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I used to be a fan of 50/50 deals, but there are too many pitfalls that you can't cover on a contract, it's either I'll be only contractor, or I'll simply borrow. 40k with 625 on the line is not bad for 6 months, the way I compute it is, you can pay yourself as a hard money lender would charge you, then your contractor his fees (in case you have to fire him), and see if the deal is still feasible.

I am not a fan of purchasing a Residential Multifamily Property known as "House Hacking."