I have bought a couple of Townhouses for cash for argument sake the generate $2K per month net of HOA fees.  

@Eduardo Mardini plenty of investors do not actually live in a house they own, they prefer to rent. 

@Bill WilliamsNew Mexico is one of about 9 states that has a Community Property right between married couples, which includes ( as I understand it), as stated previously, the home acquired prior to marriage belongs to the individual, not both of you; hence she would have the freedom to sell or mortgage that home anytime, without your consent involved.Any income earned from such a separate property belongs to the individual, but if you choose to share bank accounts and 'commingle' funds, and the house is sold, those proceeds placed into a joint account become community i.e. both of your funds.Community property is acquired by either spouse during marriage, and selling or  encumbrance requires both of your signatures.  

Those individuals will prefer a lower density say 2-3 unit building with a backyard and garage.

It will also cover most of the closing cost if the deal falls through and I need to dump the property, preferable to a wholesaler where I can avoid real estate costs.

I prefer to use my own funds.

A couple of questions I have are:I see that typical rates are 1 - 2 points.  

Hi, I'm a mechanical engineer running a couple of business right now.  

There are a couple hard money lenders that finance 90% of the purchase price plus 100% of the rehab costs if it is within their min loan amounts.  

Preferably a local bank or credit union.