You can get started with a VA loan, with no money down and have the seller pay all closing costs.

Hey Riley, If it were me I would call the seller and let him know that you are an investor and that you want to purchase the property. 

Borrowing includes pledging that equity on another deal too, like buying a seller financed property from another landlord.Being new, might check out my site, learn real estate before attempting to deal in real estate, it's a basic course at GREA and it is totally free!

And, 3.75% interest is way cheaper money than I could ever get as an investor.So, I pitched him on seller financing subject to current financing.  

So I'm wondering if anyone else has had issues with their bank not knowing the Fannie Mae rules on seller paid closing costs?

Irvine has the benefit of some of the best schools and community programs, and it is always in demand for those very reasons.

(Which I will do my best to make sure that there's nothing or if so its minimal) Lastly, once I get a contract with the seller don't I have to open escrow ?

@Rome Xu it'll be tough to get the offer accepted by the seller, but in theory you can buy a place that costs about $1.24m with 3.5% down if it's a four-unit in our core Bay Area counties.

While most notes waive notices of dishonor and presentment or default allowing demand for cure, notice of default can be public notice.

Most challenging deal I've encountered due to having virtually NO records from seller; so please don't ask what the cap rate was!